Thursday, July 29, 2010

trade setup - EUR/USD

ok i got a trade in.
and while typing this post out, Euro went for a run up, which i also think is due to stops and europe opening.

so i think Euro is range trading at the moment, which means sell on the high, buy on the low.

so looking at my chart i see that we are at the moment around the resistance level and haven't really broken out of these levels. (the white square)

so i decided to sell EUR/USD at the market at 1.3026.
stoploss - 1.3110 - which is just above a strong resistance level
take profit - 1.2970 - which has been the daily low and support level

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