Trade Idea – EUR USD – 01-29-2016

Home » Trade Idea – EUR USD – 01-29-2016

Found a nice sell trade today, 01/29/2016, on the EUR/USD cross. The reason this trade was so appealing to me was because of the strong touches on the green line. Moreover, the pivot point (R2) met well with the trend line. I usually enter a trade like this for an easy 40 pips. In this case 47 pips.

trade idea - eur/usd

EUR/USD – Trend Trade

This trade closed for a profit about 9 hours later. I adjusted the take profit (t/p) a little from R1 on the original pivots (same column as the x and check mark) to the P on the new ones (right column).

Share your thoughts.

By | 2018-02-08T05:37:38+00:00 January 30th, 2016|Trade Ideas|3 Comments

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3 Comments

  1. FxNewbie February 5, 2016 at 6:39 am

    This is a very interesting trade. Cant say that i’ve ever thought of this type of trading. Would you mind explaining what the x, check and arrow mean? I think i know but it would be nice to here from the source.

    Also, I noticed that you posted this a little late. Was that an accident or by design?

  2. forexfool56 February 5, 2016 at 7:10 am

    Great questions FxNewbie!

    X – means that is where I placed my stop loss (since this is a sell trade, look at the line immediately below the X).
    Arrow – means that is where I place my trade and what direction I set it (this case was a sell limit, I place my trade a couple pips below the line under the arrow).
    Check mark – means that is my take profit (look at the line immediately below the check).

    Let me know if this makes sense.

    As far as this trade being posted a little late, this was by design. Since this site is open to the public, we all need to be careful about influencing the market or making false claims. I posted this as a trade idea, for learning and discussion.

  3. forexfool56 February 5, 2016 at 7:12 am

    Moreover, I will try to keep this consistent throughout the whole site (and ask that our guest try to do the same).

    The X, the check mark and the arrow should always mean the same thing.

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