Thursday, December 6, 2012

EURUSD Short Trade Update EURUSD Short TradeInitially I went short this pair at 1.3041 on touch of channel's upper trendline with a stop above the previous highs of 7-Oct. Details [here].

I added another short at 1.3105 with same combined stop. My avg position size now is 1.3072.

Price spiked to the resistance area and went south after that. Looks like its making a top there.

Down move should accelerate on break of channel's upper trendline. If that happens, I expecting a possible test of 1.30 area and would breakeven my trades after pair trades 1.3040.

----------------------------------------------------------------------------------------------------------------- EURUSD Short Trade

UPDATE 7-Dec 18:40 GMT: Price action few hours later. 
I booked my both shorts at 1.2960 for +140 and +80 pips. A total of +240 pips combined.

Trade came out very well.

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