Tuesday, March 27, 2018

EURUSD - documenting a failed long

DISCLAIMER: The information presented here is for informational purposes only. These are not trade recommendations. Please follow your own trading plan. Trading is extremely risky and you may experience substantial losses.

Recap of a long EURUSD trade I entered last night (quick analysis was posted here).

I went long in the support area of the triangle as a more conservative approach.  The market was able to break out long but never reached my target area.

I was able to adjust the stop upward on the break out and reduced the loss to one-fifth of a full size loss.

Note that I used a futures contract for this trade and not the spot cash market.

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