what does this mean?

[olweiser]

Hi all,
I'm getting used to a lot of the terminology. Could one of you help me undertand the following section (part in bold):

"eur/usd: 1.4011 OPEN - Exit Long from 1.3676 BUY 1.4398, stop 1.3882.
SELL 1.3624, stop 1.4140."

 

[carlgreen]

Hi Olweiser
I am not sure but here is my interpretation of it......

Current price = 1.4011 (eur/usd: 1.4011 OPEN)
Sell the Long Position (Buying order) you had in at 1.3676 (Exit Long from 1.3676)
If the price reaches 1.4398, place a buy order with a stop at 1.3882 (BUY 1.4398, stop 1.3882)
If the price drops to 1.3624 place a sell order with a stop at 1.4140 (SELL 1.3624, stop 1.4140)

As I said, this is only my interpretation and hopefully someone with more knowledge and understanding will clarify (or contradict) this

Merry Christmas

Carl

 

[Adamus]

This looks like trading software output, or recommendation from a signal provider.

 

[olweiser]

Hi Olweiser
I am not sure but here is my interpretation of it......

Current price = 1.4011 (eur/usd: 1.4011 OPEN)
Sell the Long Position (Buying order) you had in at 1.3676 (Exit Long from 1.3676)
If the price reaches 1.4398, place a buy order with a stop at 1.3882 (BUY 1.4398, stop 1.3882)
If the price drops to 1.3624 place a sell order with a stop at 1.4140 (SELL 1.3624, stop 1.4140)

As I said, this is only my interpretation and hopefully someone with more knowledge and understanding will clarify (or contradict) this

Merry Christmas

Carl

Thanks Carl et al
I think I'm getting this now. So the (Exit Long from 1.3676) entry is an order we are closing from a previous position, yesterday or whatever...
THEN we set new orders...

That right?.....nope just realised I'm not getting this...
If it OPENED at 1.4011 - then how could we (Exit Long from 1.3676) from a previous order?