Trading Signals for Monday, June 24 2013


I have bent a little from my rule book today.

I have erased the stop loss from the deal at 1.3199 for some time. Else, it would have closed with a stop loss kept at 1.3099. I recall, when I had kept that entry order, I did get an intuition that the market could recede further down, but somehow I went wrong with that one.

So, I am in a little cautious mood to rectify my error. But I am doing this with a little caution too.

Considering the 4H charts, the market is bound to pull back a bit; but when does it start that way, I really do not know.

Hence, I have decided to wait till tonight, if by then I do not get a clear signal of the directions of the market, I would close this deal at whatever price (loss) I get.

So if that happens, it will bring the first loss of this week, and it will eat up 2/3 rds of profit earned from last week.

But nevertheless, there are other 2 orders also open, which could even out this loss; they are:

Buy orders at 1.3149 and 1.3099, both have a stop loss of 100 and a profit of 50 pips.

If these 2 deals end in profits, then this loss(if realised) would even out.

Also, I have kept another buy entry with the same profit and loss levels at 1.3049 levels.

And just rounding up the scenario since I started trading on the 17th of May:

my account is up by 500 pips since then.

Hope yours is too; Happy Trading till I update my posts till tomorrow.
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