EUR/USD Breakdown Below Support

May 7, 2008 22:14 by JEB

EUR/USD is breaking down below the established level of support around 1.5330 tonight.  After touching this area a couple of days ago and then rallying slightly, today's trading so far has seen a large drop back down to this level, and recently it crossed below it.  So, I've placed a sell order a few pips below where it was trading a few minutes ago, with a stop loss about twenty pips above the area of support that I'd been watching.

  • Order = Sell Limit
  • Limit Price = 1.53002
  • Stop Loss = 1.53525
  • 1st Profit Target (2/3 of my position) = 1.5274 (1/2R)
  • 2nd Profit Target (1/3 of my position) = Let it ride
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Categories: Discretionary Trading
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September 7. 2010 11:45