EUR/GBP Monthly  (Live) trade

Hello all just wanted to post a trade I just entered on the monthly time frame I will keep you updated!!

Comment by Trae on June 9, 2012 at 2:29pm

 if you over think think things peter you will never ever be involved. I have rules that I follow according to my plan, if my rules are met I  get in a trade, I risk money I am comfortable loosing and have a good r/r that means i size the lot based on how much money Im willing to risk pips has nothing to do with it u can risk the same amount every single time. I really liked the monthly set up, but i used the 4hr for a good entry if you will look there is a nice pin bar set up,when all this stuff lines up for me its time too get involved. hope this helps better understand, thanks for the question 

Comment by Trae on June 9, 2012 at 3:53pm
My target is not yet decided peter I enterd on the 4 hour pin and will now manage this trade on the monthly my exit will be when price closes above tenk whether it be 1 to 1 1 to 5 or a loss I am ready for what ever comes I will loose no sleep over this trade. I saw a chance to short so I did there are many ways to manage this now hope this helps
Comment by Trae on June 9, 2012 at 4:10pm
Thankyou lisa for your insight and thankyou peter for your questions much respect for your thoughts and opinions
Comment by Trae on June 9, 2012 at 5:03pm
I have become a fan of your trading style Lisa
Comment by Gill on June 9, 2012 at 6:05pm

Hi Trae -looks great as usual... I wish my charts were so neat -  what about the chinqou span I only noticed it's not on your chart... do you not use it? Gill

Comment by 2ndSkiesForex on June 9, 2012 at 7:02pm

Nice trade, I like how its happening with such a strong flat kumo along with a key role reversal level being broken.

I will be interested to see how this plays out but overall, based on ichimoku kumo breaks, its a solid entry.  

Kind Regards,
Chris

Comment by Trae on June 9, 2012 at 7:29pm
Thanks Chris and also for the studies,
Comment by Trae on June 9, 2012 at 8:26pm
Hi Gill, I use the span but I also take it on and off my chart if I feel I need just one more confirmation ill put it up and confim it above or below price hope it helps
Comment by Gill on June 10, 2012 at 12:55am

yes thanks Trae - thought span was important - i find sometimes it has to break cloud too...? w

Comment by Trae on June 10, 2012 at 4:43am

If this key level is broken I will look to short again confirming correct signal (price action).

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