EUR/PLN trade plan

strategy:

easy to trade medium-long term.
interesting setups,
dump eur from top.

wait for setup on D1,
enter trade on 1H / 15min,
scale in with small lots from reversal. (wait for 2-3 candle reversals, wait for confirmation)

currently open: short @ 4.220x

average trade duration:
5-7 days

trade only EUR shorts.

waiting for 4.210x
will enter with more shorts before ECB tomorrow.

(I don't expect a reversal, but after london closes E/PL can reach 4.19-4.20 slowly)

Be careful.

Yes, I agree. "Black swan" events happen... (http://www.amazon.com/The-Black-Swan.../dp/081297381X)

price action halted, so I closed my trades with profit...
around 4.18

waiting for short opportunities 4.210 - 4.220

@openyoureyes Which broker are you playing on EUR/PLN ?

While this is decent strategy for now, I advise all newbies all coming into this thread to look below at the monthly chart on this pair. It hasn't always been in a such a tight range for this pair, and I doubt it will stay this way for much longer either (you never know, it could change tomorrow). Basically, what I'm saying is, this strategy should NOT be used as a long term money maker, because sooner or later you WILL get burned. I would also advise using a stop loss of some sort if trading this strategy. I'm not trying to be a pain in the rear saying this, and certainly do not want to burn on openyoureyes. Just make sure your able to handle the risks of trading the strategy is all I'm saying.

Is the correction over and 3 a long term target ?

Selling pressure has been still on for EURPLN with each pullback up was used for a sell opportunity. First target for the coming week is 4.12 (See 4h

It need to broke 4.15 and if Greece dont waste the chance and do what the EU want, we will see 4.0 to end of summer.

trade with plan

In recent days we have a level from January for EUR/PLN. Almost the same for USD/PLN, what do you think guys, I'm about to short this but I'm a little bit confused. Are there fundamentals for further eur/pln growth?

short next week...

multi-week position,
thank me later.

I will update this thread.
1w EURPLN chart

(another -better- opportunity is EURGBP but that's another topic)