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5 thoughts on “EURUSD Trading Setup”
Hi Colibri and Dan,
Thanks for the Setup posted, they are mostly accurate.
Regarding the Stop Loss, I find that some of the positions hits stop loss first, before going as expected.
What is your advise? Should one re open position once it hits stop loss, or simply forget it and look for other opportunities.
Thank s for your comments! Hitting Stop Loss is completely natural- it is part of the process. What is important and what you have seen from my advanced trading course is that what makes the money in the long term is sticking with the winners for as much as possible, while trying to cut your losses short. Money and risk management are the name of the game
I wanted to ask about long buying as oppossed to short covering.
For example on any chart after a downtrend then price starting to rise.
Is there any way to see within the price action that this is longs entering or shorts covering.
I realize this could be a muted point but I thought to ask for your opinion anyway.
just thinking outside the box at times.
I realise it could simply be both at work but still would appreciate your input if it is warranted.
Looking back on your Euro short, very good call and trade !
274 pip range to bottom
Your course has highlighted even more the importance of looking for evidence at supprt and resistance.
Many things make up confluence but in most cases these levels are the bread and butter for the starting point.
Yes- this was a very good trade. A few places to increase the position size that were perfect according to my trading strategy- you should know where I am talking about;) Support and resistance are crucial when it comes to confirming trades