Trading Signals for Monday, March 25, 2013

Today it is the first trading day of the last week of the month of March. Both my open long entries are on a profit, though the individual profits of both have diminished a bit.

There is almost a 100 pip loss from the last gain that I witnessed in my account in the morning.

I was a little late in noticing a little downtrend but nevertheless I noticed it and therefore, I opened a short entry for the time being.

Another factor leading to the opening of the trade was the Dollar Index.

It has been showing a continuous downtrend for the last 4 consecutive trading days, hence there is a room for slight correction, hence the following short order as follows:

Sell EUR/USD at 1.3001 for 50 pips, with a stop loss of 150 pips

Kindly note that in this order the profit and the loss are in a reverse role. (loss is 3 x the profit)

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