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Market: Eur/Usd
Current Price: 1.2940
Direction: Long
Order Type: Limit
Price: 1,2890
Stop Loss: 1.2740
Profit Target: 1.3890
Instructions: The given SL is the maximum loss recommended and the given TP the maximum profit recommended. Please manage this trade as well as all future trades according to your own parameters.
Friends, lets give our Eur/Usd trade another 50 pips room as 1,2747 is a daily pivot support level and too close to our stop. If we get stopped out, then that' s it for this week. We will enter a new position in the days ahead.
New Stop: 1,2690
Current price: 1,2820
Ok friends, let´s get out of our EUR/USD position at breakeven for now.
Current Price: 1,2890
Hello my friends
The Euro is currently in a price area where there has been medium term demand for the currency between October and December 2008. The currency is without a doubt basing which does not mean that it actually suceeds :-). As such, it is my personal assessment that the upside risk for the next few weeks is higher than the downside risk and as long as the 1,2300 level holds, i will not change my view. If we break that level, then we are on our way to 1,08 first enroute to our ultimate target of parity. Looking at the nearer term chart, there is a strong possibility that major Euro supply could hit the market below 1,2700 to drive prices down to the 1,2400 area and the risk for continuation would greatly increase then. Today is also NFP day and the numbers leave wide room for speculation and interpretation this time. So here is how we will trade the Euro today and i will refrain from using my usual alert format for this trade.
We buy Eur/Usd at 1,2740 Limit with a relatively tight stop at 1,2640. We will place this order before NFP. In case we get stopped out, we will then place a second order 30 MINUTES AFTER THE NFP RELEASE. The second order is a STOP ORDER to BUY EUR/USD AT 1,2840 with a STOP LOSS at 1,2640. Both orders have a profit target of 1,4640. I suggest to move your stops to breakeven after 300 pips profit. In case the first order gets filled and we do not get stopped out, cancel the second order. In case we do not get filled on the first order, cancel it as soon as the second order gets filled. In case price is above the second order when you place it, then please use a LIMIT ORDER or wait for further instructions. In case none of the orders get triggered today, i will issue another trade alert likely during european session on Monday. So all is said about this trade. I will not update it as all is explained and you will manage this trade yourself from here on. Current price as i finish writing this alert is 1,2790.
The home of the pips
Please cancel our order to buy EUR/USD at 1,2840 Stop.
Leave the order to buy at 1,2740 Limit open.
Current Price: 1,2815
Time: 1:53 pm GMT
Good morning friends,
please remove your limit order from Friday to buy EUR/USD at 1,2740. Thank you.
Current price 1,2820
Hello my friends
As of today, i will only be posting on my blog as well as fxstreet. Thank you for allowing me to be part of your community and i wish you all the best for your forex trading.
Yours truly
SirMcPip
The home of the pips
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