Stocks | Forex | Commodities
Went long on EURUSD anticipating the break from the resistance line. Entered@1.3656 and placed my stop loss@1.3643 (13pips).
Updates: 11pm 3-11. Stop loss hit. Wasn’t able to monitor the price going up when I left my computer. Leaving an open position w/out setting a target price is really a bad idea… Lost 13 pips.
The EURJPY in the 1-hour chart is currently consolidating to what could look like a descending triangle but this will only be confirmed by a breakdown. However, the price seems to be staying near the resistance and this can be an indicator of a breakout. Personally, I’ll trade this upon a breakout from the resistance and a breakdown from the support.
The EURJPY did not totally break the support line a while ago as seen on the left image, but instead just bounced back up and made a new support. Good thing I was still able to take profits in the earlier trade. Now, a new support line is made seen in the images above.
I shorted the EURJPY again @120.52 as I see a overbought in the stochastic and a bearish signal in the MACD both in the 1-hour chart. Stop loss placed @ 120.85 (33pips).
Updates:12am 3-3. Stops hit. Lost 33 pips as seen in the right image.
I shorted the EURJPY @120.80 as the MACD is showing signs of weakness as well as I anticipate the break of the support line of the possible symmetrical triangle pattern as indicated by the yellow lines at the image on the left. Stop loss placed above 121 or @ 121.10 to be exact (3opips).
Updates:5pm 3-2. Moved my stop loss to my entry price. In case prices go back up, I won’t incur losses.
Updates:6pm 3-2. Hit my stops as I moved it to 120.15. Profited 65 pips as seen on the right image!
The EURJPY broke down from its upward trading range in the 3-hour chart last February 24 (click here to see). And usually upon breakdowns, the price has higher chances to continue going down and vice versa for breakouts. As a result, EURJPY’s value was dropping for 2 days and 150 pips was easily achieved for those who shorted.
A potential breakdown from the symmetrical triangle triggered me to short sell the fiber (EURUSD) again @1.3571 after my trade hit the stop loss earlier. Stop loss is currently set @1.3635 (64 pips).
Updates:12pm 12-25. Took profits as seen on the right image in the 15-min time-frame. 118 pips up!
The image on the left is a 3-hour chart of the fiber or the EURUSD currency pair and the price is trying to breakout from its downtrend, once the downward trading range’s resistance is broken another good entry awaits. On the right is also an image of EUR/USD but in the 30-min time frame and just when it broke out from a reverse head and shoulders formation, I went long.
Bought EUR/USD @1.3661. Stop loss placed@1.3618 (43pips). Initial target price @1.3782 (121pips).
Updates: Stop loss moved to entry price was hit. Trade was break even.
