Daily FX Training | Learn Forex with the Dynamic Traders

Dynamic Trader Blog - Forex Chart Pattern Signals

Friday, October 24, 2008

Exit EURGBP for the weekend

Good afternoon Dynamic Traders,

I've been keeping you posted on my EURGBP trade this week as thought it may be helpful going through each step of my trade. A few weeks back I spoke about a manual exit of one of my trades. Even though I was right about the market coming back down it did move up a reasonable amount before reversing. Since then I've decided to always trail my stop and if I believe the reversal is near I will just tighten my stop. This is what I did with this trade and it paid of as we had another really good move up today.

I just exited my trade now for a total of nearly 300 pips (this would have been more if I was infront of the computer earlier today) The reason for exiting is because of the big candle stick reversal but more importantly it's Friday and I don't want to keep this position open over the weekend. I will be keeping a close eye on this pair next week for potential long trade set ups.













EURGBP forex chart from Advanced Get

Good trading.

Labels: