Trading EUR/USD Daily Hi & Lo

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stop currently at 1.4080

edit stop at 1.4077
 

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Quote from Lucrum:

My trading strategy/philosophy is to put on a position when I perceive the market is likely to move in a direction based on very simple price action. Soon after showing a gain I place an at or near break even stop. IMO I don't really know what will happen for more than a few ticks or so after I enter. If the market runs in my favor great, if not who cares.
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Do you also use some kind of martingale money management as the OP did in this thread ?
 
Quote from Joman:

Do you also use some kind of martingale money management as the OP did in this thread ?
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No, while I have averaged into positions in the past I tend to do better with a relatively small position size.


Short again with about + 40 at the moment.


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After the EUR/USD gapped down about 100 pips it's really struggled to take back ground; currently in the 1.35's. I think there will be a bounce from here and price will rise to 1.3838 where the previous support was, and from there, price will continue in its downwards trend.

The recent drop this morning is from the China Italy deal falling apart.

What do you think of that analysis, do you think it's sound?
 
Infact....You look at the stochastics, on most figures, on the daily chart it is oversold, which historically has seen at least some kind of correction.
 
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