i have a eur/usd long at 1.5600 maturity end sep 08. do i cut my loss now, or you think some bounce back would be there before then
shadowninja
Legendary member
- Messages
- 5,524
- Likes
- 644
Do your own research. Don't rely on the advice of others to make your trading decisions. They may be right. They may be trading gurus. Or they may have less experience and knowledge than you. You can never tell. If they're wrong, will you blame them or yourself?
good piece of advice for newbies.
Guidolightning
Newbie
- Messages
- 1
- Likes
- 0
aye, cut your losses and run!! during perdiods like this it's best to follow the trend and I don't expect EUR/USD to see 1.50 again for the foreseeable future.
I'm new to this forum btw,
hi all and best of luck..
Guido
I'm new to this forum btw,
hi all and best of luck..
Guido
Possibly more official and semi-official bids overnight with traders noting Asian names on the bid. Long-term bulls are likely still in control of the market and this significant pullback is a buying opportunity in my view.
2:00am EUR German Trade Balance
2:45am EUR French Trade Balance
6:00am EUR German Factory Orders m/m
Resistance 3: 1.3520
Resistance 2: 1.3480
Resistance 1: 1.3420
Latest New York: 1.3275
Support 1: 1.3220
Support 2: 1.3180
Support 3: 1.3150
2:00am EUR German Trade Balance
2:45am EUR French Trade Balance
6:00am EUR German Factory Orders m/m
Resistance 3: 1.3520
Resistance 2: 1.3480
Resistance 1: 1.3420
Latest New York: 1.3275
Support 1: 1.3220
Support 2: 1.3180
Support 3: 1.3150
Today's expected trading range is between 1.3065 and 1.2870. Break under 1.2870 may lead to further decreasing scenario with test of 1.2750. The CCI indicator is about to cross up the 100 line on the 4 hour chart, suggesting potential increasing pressure.
Technical resistance levels: 1.3065 1.3180 1.3300
Technical support levels: 1.2870 1.2750 1.2635
Trading range: 1.2965 - 1.2900
Trend: Downward
Sell at 1.2952 SL 1.2982 TP 1.2912
Technical resistance levels: 1.3065 1.3180 1.3300
Technical support levels: 1.2870 1.2750 1.2635
Trading range: 1.2965 - 1.2900
Trend: Downward
Sell at 1.2952 SL 1.2982 TP 1.2912
Before entering a trade you must have a clear plan.
1) why are you opening a position
2) when will you open it
3) when will you close it
4) where is your stop loss going to be if the trade goes against you
5) how much do you mind losing on that trade
Decide on all those before you place the trade and stick to that plan. If you change the plan after you place the trade then most likely you are responding to your emotions and will make an error.