A lot of EUR negative news this weekend, but my experience tells me that when the news gets to negative a reversal is close...so i don't trust the fx this week..my EUR/CAD sl is on be so I don't risk anything..
Beware of big reversals in EUR/$, I wouldn't be surprised to see a lot of profit taking and a big short squeeze very soon, altough we all hope it will get to 1.18-1.15 before that happens ;)
Hi Mino, eur/cad is one of a few trades that I did nt take unfortunately when signal happened. I take them all now. so far the trend is going so I am going to stay with it as long as it lasts. Profit taking is of no importance I am ready to stay in trades even if they go to 0 pips as long as trend is still in the same direction. so far not so bad. looking for few more pairs to take trades.
You use a cross of the 7 and 21 EMAs on the Daily chart to identify a signal?
Honestly I dont know what to do now, one part of me sees the EUR disaster but the other part tells me that a short sqeeze is comming before the end of the week..this translated into taking partly profits on the EUR/CAD and selling the EUR/$ at 1.2085 (too low I know) and than selling back the EUR/CAD :p...the $/CAD is in a downward channel and will soon hit the above resistance line so that will be the moment to add to a EUR/CAD SHORT
It is EMA 25 and 7. You simply trade medium term hence you are right for your time frame, but I trade longer term hence I should stay put. Weekly , monthly results do not matter., my goal is to get on big trends and run them and collect working tardes. actually had not I closed so much of my older positions I would have had a lot of floating equity.,enough to cover losses and for some profit. lesson learned
running 10+% floating balance. had not closed partials would have been 30% most probably. even on live account where I do not have earlier opened trades to compensate for whipsaw losers already floating balance equal to total losers. of course I am not looking for equal. i am looking to hit pay dirt. I guess this kind of trading cannot be assessed upon weekly/monthly balances. it is longer term. the most important for investors to know that trader takes all signals, cut losers and let profits run to let probabilities assert themselves. I am trying to grew reversed fat tail. Opposite from what practically every strategy running here does. good looking balance and trades that are deep in red. looks like other 2 pairs I am watching cannot be traded now. gbp/usd too far gone. risk is big. I wouold sell at better price to have risk smaller. gbp/nzd no signal yet and might be reversing to original trend. so this is all for now. let's see how new 5 trades will perform. so far I am not moving stops.
I am looking for a reversal on the GBP/Yen to retest the previous supportline which is now resistance, I opened a short on the EUR/AUD again ( I love to trade the AUD and the cross pairs!!) , but not too big, EUR/Cad took some profit and opened again, EUr/$ short for longer term will add to this one, my trading was very sloppy yesterday, that's what happens when you sit all day before your computer :D
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