Monday, June 16, 2008
Forex Trading (currency trading) EUR/USD June 16, 2008
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Forex trading ( Currency Trading). Pair EUR/USD. June 16, 2008 at 12:13PM, pair is at 1.5490 and strong sellers are at 155.14. Potential trade for short term (selling EUR/USD).
Two possibities: wait until it gets to the sellers and short, or scale in. Waiting is good for entry price, but can miss entry if price does not go to strong sellers.
I am deciding as I write this.
Addendum: I decided to scale in.
12:17PM: first "bull shot" at EUR/USD bulls. Sold at 154.89. Plan to scale in if prices moves, and then weakness shows. If it does not move up, I have a partial position in. Chart of entry is shown.
Here are the additions and where it stands now at 1:38PM.
I am now considering taking a 20 something pips profits on part of the position, after analyzing the chart.
Happy trading
Two possibities: wait until it gets to the sellers and short, or scale in. Waiting is good for entry price, but can miss entry if price does not go to strong sellers.
I am deciding as I write this.
Addendum: I decided to scale in.
12:17PM: first "bull shot" at EUR/USD bulls. Sold at 154.89. Plan to scale in if prices moves, and then weakness shows. If it does not move up, I have a partial position in. Chart of entry is shown.
Here are the additions and where it stands now at 1:38PM.
I am now considering taking a 20 something pips profits on part of the position, after analyzing the chart.
Happy trading
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