Short on EU, sell stop placed at 1.234 I use 4 hr charts and we are in a red super trend. But the most important thing to realize is that we are in a 3 month-6month down trend. therefore the odds of a placing a short at this time and it going in our direction are VERY good. This is a high probability trade. Although at the time of this I do not know of any fundamentals that affect this. But I am going for a quick 100 pips. I picked up 100 last night on the Eur/Jpy pair from 112.6 to 111.641. Again they are all 4hr charts and I pick up trades off of rebounds and small retracements IN THE OVERALL DIRECTION OF THE TREND. I have a VERY aggressive money management system so. Usually these trades are placed in full lots or half lots.
be careful with rebounds. I already exited my E/Y and E/U orders for 100 pips each. I would recommend staying out of E/U for the moment unless we continue to see another red dot on non lag with confirm from closing of 2 bars and obviously sell super trend. Ive got my eye on A/U and and E/Y this is a good time for this system so take advantage of it.
Thanks for Your advice..
(i was really bored)
