Currencies Were Moving Today

April 17, 2008 02:55 by Jon

Many of the major pairs moved quite a bit today.  Unfortunately, I woke up to find that GBP/USD has moved significantly against me.  It never hasn't hit my stop yet, and has started moving back towards my entry.  I'm happy with the position of my stop for the time being, because it is just above the down trendline, which has served as resistance the past few weeks.  So we'll see what happens tomorrow and take it from there.

 

EUR/USD also moved quite a bit today, moving above the top of the triangle, but retreating from its high again.  It's flirting with breaking 1.6000.  If it breaks today's high tomorrow, I'm going to enter long and see if I can catch some of the action.

  • Order = Buy Limit
  • Limit Price = 1.5989 (10 pips above today's high)
  • Stop Loss = 1.5776 (10 pips below today's low)
  • 1st Profit Target = 1.60955 (1/2R)
  • 2nd Profit Target = 1.62020 (1R)
  • 3rd Profit Target = Let it ride

 

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