Buying Again EUR-USD at 1.3845 SL-1.3835 TP-1.3900

Comment by Top Cat on April 20, 2014 at 2:28pm

I'm not sure if it's a case of SL too tight.  I think its more not following your own tools.  You've moved the trendline and in both cases you bought before the trendline was tested.  Why not wait to see if there are actually any buyers interested in the trendline?  

My personal preference with trendlines is to draw them on the close then wait to enter til a candle closes on or a few pips above the trendline.  On the chart below no buy would've ever been trigged because the candle closed a few pips below it.  You also could have then sold when the trendline became resistance and as long as your stop was greater than 4 pips you would've had a nice profit.

Comment by Glider on April 20, 2014 at 2:54pm

No Problem with this trade Loser. Your s/loss is tight rather than a big loss. RR is what it's all about. I also have a pulback in sight towards the upside Eu totally unpredictable and is fooling one and all The longer t/frames are showing me a pullback and possibly a new high.

Comment by Oasis on April 20, 2014 at 3:30pm

Great discussion on this rather enigmatic pair. The weekly view shows a pull back in progress within an uptrend. So far the 20EMA has been able to contain price, so the low 1.37 area makes good sense for a short.

Looking at the daily, you see that the bulls have tried really hard but failed to make or rather hold on to a significant ground all week. So i am thinking short perhaps to 1.37 area.

Good luck to all this week. 

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