Mr Green - Makes sense - Thanks for posting.
I will ask one final question
If you always follow the trend then looking at the chart I could make a case for going long at these levels? Do you agree?
I think , and its my view I m posting that its times like this when you ve seen such a massive run, that you short EUR and go long USD which is not following the trend!
Are you saying I ll be getting my fingers burnt using this technique and that in the long run going long EUR even though its moved so far so quick would be more profitable?
PLEASE NOTE : I am sharing ideas and trying to learn from others and trying to share my experiences !
Going long...yes
At these levels you should ALREADY be long and trailing your SL
My most recent evolution -
AH picked up on 12-24 @ 4410
Add on 12-27 @ round # of 4500
Didn't add @ 4600 on 12-28 (thin mkt @ holiday time frame) too scarry...
Trailing SL to minus 50 pip from most recent bar high, so
On 12-28 @ open of 16GMT bar moved SL to 12GMT high of 14727-50=14677
Soon got nervous and tried to bail @4700 before close into holiday weekend
Didn't get filled, so...will see
A note on trailing Stops...Can be difficult and not very precise depending on your own trading hours. We all have to sleep and SL may not always be 50pip, so adjust SL accordingly while awake...but ALWAYS have something in place!
IMHO
Dan
