I will draw a short trend line going down. Jest in case the market is still in a downward direction. If this trade closes on a no loss trade. This will identify that the market is still in a downward direction and only time can tell.
I hope everyone has Broke Even and the trade became a Zero Risk Trade by now. If you want. You may add 1 or 2 pips more to cover your spread cost or commission fee.
too late to open a long now?
The EUR/USD Price is still ranging around the 1.3800 Entry Level but make sure your stop loss is at 1.3790. Your basically risking 10 Pips for 100 pips. Not Bad...
The Signal from Yesterday was 31 Pips in Profit before reaching it 50 pips Break Even Point. If you like. You can lower your risk at 10 Pips on 1.3790 price.
Kingdom Vault Signal:
Pair: EUR/USD
Order Type: BUY
Entry Price: 1.3800
Stop Loss: 1.3750 / 50 Pips Risk
Take Profit: 1.3900 / 100 Reward
Break Even: 1.38500 / 50 Pips In Profit
Note: EUR/USD Broken both a Upper Trend Line & Support Level. This will create a 1st Retracement. The Market is showing a Strong Support and Resistance Level at 1.3800 which is our Entry Price. This level has been respected 8 Times in the pass 1 month. The Trade is a 1:2 Ratio with a 50 Pips Risk and 100 Pips Reward.
Pair: EUR/USD
Order Type: BUY
Entry Price: 1.3800
Stop Loss: 1.3750 / 50 Pips Risk
Take Profit: 1.3900 / 100 Reward
Break Even: 1.38500 / 50 Pips In Profit
Note: EUR/USD Broken both a Upper Trend Line & Support Level. This will create a 1st Retracement. The Market is showing a Strong Support and Resistance Level at 1.3800 which is our Entry Price. This level has been respected 8 Times in the pass 1 month. The Trade is a 1:2 Ratio with a 50 Pips Risk and 100 Pips Reward.
What became a short Trend Line turn out pretty Long. Next Week the EUR/USD should change Direction for 2 reason. First, will be the strong movement. Second, The market will feel some Resistance force at 1.3900 or 1.39600. This will cause the market to drop downward. I'm waiting for the market to break the Trend Line and break a Small Support Level at 1.38500 to confirm the new change of Direction. The main question will be how far will the market go down? Any Ideas Guys?
interesting video
Thanks Sebast.
Here is a video for you: http://screencast.com/t/CVy7AoBzD1
Well, We Loss this trade because the market is changing direction. The New Direction is Up. Must likely the market will retrace down, giving a second chance to ride the trend and gain back our loss and more. I add a small Trend Line to determent when the retracement will occurred. It is up to you, If you want to trade against the trend. If you do, Please use half of your lots size. Risk management is very important. Thanks,
EUR/USD is creating a 4th Retracement. Sell will be the best time now.