Tuesday, March 24, 2009

Trade of the Day

Entered short in EUR/USD. From yesterday, we can see that the market was kinda bearish. 

Red Line = Stop Loss
Black Line = Entry Point
Blue Line = Take Profit

As from the chart, we can see that there's double top, and strong resistance form was formed on the price area around M3. Thus I put stoploss some prices above M3 line. 

Take profit was deemed to be at yesterday low. However, I might want to close a percentage at the line M2, or at Friday's low, to secure part of my profit.  

Update: Take Profit Hit. 

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