Thursday, January 3, 2013

EURUSD Long Trade Setup EURUSD Channel Long Trade
I am following up this setup from past few sessions and yesterday closed my short trade for +80 pips. Previous post [here].

Now another channel setup is coming up. This time price has broken the previous hourly channel to the downside and is fast approaching the daily channel's upper trendline. 

That area is also near to 200EMA. I plan to go long on touch of upper trendline with a stop of 40pips for a possible move towards the hourly channel. 

UPDATE: I went long on touch of trendline at 1.3040. 

Stop loss at 1.2990. 

UPDATE: Booked this trade for 40pips at 1.3075 ahead of Weekend. Don't want to loose the profit.

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