My running trades are two, the first one is on the EUR/USD which I opened early yesterday. I opened the trade mainly because of a bearish breakout that occurred on the H1 chart trend line, and I am glad I did because the trade is running at a loss of $62.00. The buy position was doing well until a few minutes before the closing of the market yesterday, it floats at a loss of $62.
Lot size: 150:
Entry price: 1.1846:
Stop loss: Not Set:
Take profit: Not Set:
I will do that immediately after the market opens on Monday. The stop loss will be set at 1.1790, and the take profit at 1.1960. Although I did not set the take profit and stop loss in this trade, I have the plan to do so. I couldn’t place them anyhow at that time I sold the market, I had to wait. Now, I know where to place them.
About two hours ago, I observed some weakness in the British pound currency against the US dollar. The price formed a tweezer candle at the top of the 1.4000 level mark, and then the price made three consecutive bearish candles. Later it got slow and merged just above the upper Bollinger band. Suddenly I saw confirmation of bearish momentum breaking out of the upper Bollinger band and MA 12 period. I kept reading the price motive and placed a large 3.00 lot. It’s astonishing to think that a few moments ago, my sell trade on GBP/USD hit my aiming price. I’m not eager to hold my sell position as the daily chart gives some unclear transactions as the price comes to test the bullish pin bar, so providing extra respect to the pin bar may relaunch uptrend.