Went back short at 1.2419 stop 1.2448, target 1.223. We have a descent double top there.
Forex price action trading
- Thread starter momoNY
- Start date
Stopped at 1.2448, I knew I lost sync. The first trade I made where I lost $500 is the most stupid one I made in a long time. It looks like this is a downturn on my account I have to take it easy, and trade very safely. The last trade was an ok one even though the pattern has a lot to be desired, anyways, I lost 32 pips. If we break 1.26 we can go to 1.28 and may be even higher. I would definitely be surprised if that happens, actually we may have made the high right here at 1.2487 or may be a little higher around 1.2535. I may go short again, but only after a good sign or if it gets to 1.25.
30 trades, Profit: 1271 losses: 341 pips P/L: 930 pips
19 winners, 11 losers.
New challenge: -$660
30 trades, Profit: 1271 losses: 341 pips P/L: 930 pips
19 winners, 11 losers.
New challenge: -$660
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You gave me impression you were extremely biased. You were talking about Eur going down as if it was done deal. After such a sharp move down one should expect some bounce and that's exactly what Eur did. Hit resistance (double bottom with Nov 7 low) at 1.2355 area,bounced back to 38% retracement,wandering there a little and shoot higher to 62% retracement. Let's see if it shoot higher for retest of that area where it dropped from. Just my humble opinion as usual.
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Agree! I am not biased, I rushed too soon. The trend is still down it needs to break 1.26 to be up and that's a big resistance. I think it can go a little more up and then come back down. Hope I won't give away everything I made! The second trade I made was at 38% retracement, it was ok, but the first was so absurd!You gave me impression you were extremely biased. You were talking about Eur going down as if it was done deal. After such a sharp move down one should expect some bounce and that's exactly what Eur did. Hit resistance (double bottom with Nov 7 low) at 1.2355 area,bounced back to 38% retracement,wandering there a little and shoot higher to 62% retracement. Let's see if it shoot higher for retest of that area where it dropped from. Just my humble opinion as usual.
Closed the wrong position, just to reopen it one pip higher. Changed my mind will stick with both positions. first 1.2479 and second 1.251, target 1.223, stop 1.2604. Learning to pray!