Trading Signals for Friday, August 10, 2012


The market has confirmed the down trend that I expected it would take at the start of the week on Monday.
One of our long deals on EUR/USD that opened on Wednesday got closed at a loss; that is fine till our stop loss was firmly in place. Though another deal on the pair that opened yesterday at 1.2289 is still open.

Looking at the trend it seems to be ending again at the stop loss, those who do not have a sizable account can either close it right away, taking back a small loss or wait for it to get better or even consider it to reach the stop loss that I suggested yesterday at 1.2249 levels. Anyway the choice is entirely up to you and your trading style, and of course the margin in your account.

Since, I enjoy taking a break from currency trading from Fridays to Monday, so I do not intend to open a new deal today. But still from the analytical point of view, these are the long term deals still active on my trading account:

1. EUR/USD : Short at 1.2451 with stop loss 1.2491 and take profit at 1.2331
2. EUR/USD : Short at 1.2411 with stop loss 1.2451 and take profit at 1.2291
3. EUR/USD : Long at 1.2209 with stop loss 1.2169 and take profit at 1.2329
3. EUR/USD : Long at 1.2109 with stop loss 1.2069 and take profit at 1.2229
5. XAU/USD : Long at 1596.6 with stop loss 1591.6 and take profit at 1611.6
6. XAU/USD : Long at 1586.6 with stop loss 1581.6 and take profit at 1601.6
7. XAG/USD : Long at 27.70 and 27.50 and take profit at 30.0 and a stop loss as per your margin capacity

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