Last Trade of 2008 - Long EUR/USD

December 30, 2008 22:02 by Jon

Tonight I've entered a long order on EUR/USD, which, if hit before midnight tomorrow, will be my last trade of 2008.  It's been a very rough December for me, but I hope to end it on a high note.

Let's take a look at this setup...

The Euro's been in an uptrend on the daily chart for all of December.  After hitting a high on December 17, the pair retraced back to the rising trendline, and now, on the 4 hour chart, we see a symmetrical triangle has formed.  I've placed long orders at 1.4165 - if the pair breaks out of the top of the triangle and resumes the uptrend, my orders will be filled and I'll jump on board.

  • Long Entry: 1.4165
  • Initial Stoploss: 1.3985

Edit 12/31/08 7:23 AM:  This morning I woke up to find that the pair broke out - but to the downside.  So my long orders weren't hit, and likely won't be hit today.  

Digg It!TechnoratiDel.icio.usStumbleUpon

Be the first to rate this post

  • Currently 0/5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5
Tags: , , , ,
Categories: Discretionary Trading
Actions: E-mail | Permalink | Comments (0) | Comment RSS

Related posts

Comments

Add comment


 

  Country flag

[b][/b] - [i][/i] - [u][/u]- [quote][/quote]



Live preview

February 6. 2012 06:05