EUR/USD Beginner Level trading
I just took a short trade at the pre-franky high
I got stopped out of my short, only for price to move in my intended direction
I am down around 2 pips after todays set of trades, not a big loss. I got stopped out of my first short, so I went long thinking price was aiming for the hourly high, however when I saw price falling I went short again and recovered most of the loss. I had to cover my shorts when price got to 1.1600 because the level has been acting as support for some days now and also because there is an option expiry sitting there. So, after price hits it, there's a high probability it might reverse and start going up.
I am down around 2 pips after todays set of trades, not a big loss. I got stopped out of my first short, so I went long thinking price was aiming for the hourly high, however when I saw price falling I went short again and recovered most of the loss. I had to cover my shorts when price got to 1.1600 because the level has been acting as support for some days now and also because there is an option expiry sitting there. So, after price hits it, there's a high probability it might reverse and start going up.
As I forecasted earlier, price has actually reversed back up. So, imagine that I didnt exit the trade at 1.1600 it would have been premium tears now.
As I forecasted earlier, price has actually reversed back up. So, imagine that I didnt exit the trade at 1.1600 it would have been premium tears now.
But why is EUR/USD behaving like this lately? It hardly trends in one direction again
But why is EUR/USD behaving like this lately? It hardly trends in one direction again
I think it is the season we are in, liquidity seems to be drying up. Nowadays I just look for 10 pips only
I am down around 2 pips after todays set of trades, not a big loss. I got stopped out of my first short, so I went long thinking price was aiming for the hourly high, however when I saw price falling I went short again and recovered most of the loss. I had to cover my shorts when price got to 1.1600 because the level has been acting as support for some days now and also because there is an option expiry sitting there. So, after price hits it, there's a high probability it might reverse and start going up.
Its actually a win when you perform several trades and end up with only a small loss. Each of those trades had the tendency to blow your account if you didn't cut the losses early
EUR/USD has pushed upwards to the previous days hourly high
Its clearer on the hourly chart, a break/close above 626 will be a significant milestone for buyers
