Over the weekend I posted This Possible setup on the Eur/Usd and the trade moved in my favor. I closed my first lot at +15 pips when we had a nice upward spike on the Eur/Usd. Then I moved my stop to +1 the pair topped out at 1.3538 and dropped suddenly taking out my stops.
The end result was + 16 pips total on the trade.
1hr chart *Note click on the chart to learn about our trading service.
Since the pair dropped below the trend line, I am now looking for short trades. The pair is currently testing the support level around 1.3460. If we get a pull back to the upside I will look to enter short possibly around the 1.3500 area.
I open multiple positions and then move my stop loss to breakeven as soon as possible.
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Have a great trading week.
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