2nd Trade - Long EUR/USD

JoshWinter
JoshWinter

We bought EURUSD off a fibonacci pullback level/area. We are currently up about 50 pips on this #EURUSD long trade. We are being patient with our stop in case EURUSD wants to rally and break up to 1.21 or higher. We logged this in the journal as well, stay tuned for updates with videos and chart images.

Always a Student. B)

Comments

  • JoshWinter
    JoshWinter
    Posts: 474 edited January 10

    This trade may stop out for a tiny loser or I may just cover it for a small loss or small win. Waiting to see how it closes the day today 10 JAN 2017.

    https://www.tradingview.com/x/HMBN1slU/

    Post edited by JoshWinter on
    Always a Student. B)
  • JoshWinter
    JoshWinter
    Posts: 474

    I am going to exit this position early for a small win. I don't like the current price action momentum seems to be favoring the bears. Will stay flat or look to re-enter long.

    Always a Student. B)
  • JoshWinter
    JoshWinter
    Posts: 474

    Will be connecting to MYFXBOOK to share links and stats as well.

    Always a Student. B)
  • kwokyeong
    kwokyeong
    Posts: 100

    :3 :3

  • JoshWinter
    JoshWinter
    Posts: 474 edited January 11

    Okay, so it seems that EURUSD found support and has been bought of its lows from yesterday and has now rallied back up to resistance. So in hindsight we could have left this trade on with our stop and still be in and back up about 50 or so pips. But we did manage and close this trade for a tiny profit. Waiting now to see what EURUSD and another entry.

    Post edited by JoshWinter on
    Always a Student. B)
  • JoshWinter
    JoshWinter
    Posts: 474

    This is a good lesson set it and forget it when it comes to entries and risk. This trade would have been a larger win vs a small one if left on, but also EURUSD may have sold off and therefore the small win is better than taking a loss. Trading is a probabilities and numbers game.

    Always a Student. B)
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