Eur/Usd:Trade Results +16 Pip

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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Casey Stubbs is the founder of Winners Edge Trading, which is one of the most widely read forex sites on the web. Winners Edge Trading has trained thousands of people to trade the Forex markets.

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