Lets see whats happening live on 5min chart
http://img835.imageshack.us/img835/5286/aa1o.png
And the decision is coming up soon
http://img185.imageshack.us/img185/4544/aa1n.png
I have added another sell position as this would be a tight entry if it works. If it doesnt work out I risk very few pips for something very large. Having more positions doesnt necessarily mean you have to lose more. More positions means more profit when the risk is controlled. At the moment if I lose both positions, I lose a total of 7 to 14 pips but I can also control my exit and try for a tighter exit. Worse case scenario that is an average loss of -7 pips per position. A definite bargain
http://img837.imageshack.us/img837/5306/aa1d.png
Now nobody knows which way it will breakout. But lets think about my current r:r
Im risking 14pips for x2 lots of +100 pips. My positions are also in a better area where it will survive the next few candles
And if my positions does workout I will continue adding as this stall on eur/usd could be the next new swing. You never know until you participate with low risk entries.
Sincerely,
Graeme
http://img835.imageshack.us/img835/5286/aa1o.png
And the decision is coming up soon
http://img185.imageshack.us/img185/4544/aa1n.png
I have added another sell position as this would be a tight entry if it works. If it doesnt work out I risk very few pips for something very large. Having more positions doesnt necessarily mean you have to lose more. More positions means more profit when the risk is controlled. At the moment if I lose both positions, I lose a total of 7 to 14 pips but I can also control my exit and try for a tighter exit. Worse case scenario that is an average loss of -7 pips per position. A definite bargain
http://img837.imageshack.us/img837/5306/aa1d.png
Now nobody knows which way it will breakout. But lets think about my current r:r
Im risking 14pips for x2 lots of +100 pips. My positions are also in a better area where it will survive the next few candles
And if my positions does workout I will continue adding as this stall on eur/usd could be the next new swing. You never know until you participate with low risk entries.
Sincerely,
Graeme