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| Image used to convey the idea of currency conversion (originally from en.wikipedia). The signs are (clockwise from top-left): dollar, euro, pound, shekel, đồng, yen. (Photo credit: Wikipedia) |
Anyway, I still maintain my stand as yesterday that the market is bound for some movement downwards. Hence, I have put in a short deal at 1.3509 levels for a stop loss and a take profit level of 25 pips each. Also, I plan to get into a rolling take profit and loss schedule once the market starts rolling more downwards.
If in any case it does not, then I will be happy with a loss of 25 pips in this deal today. I know I could have initiated another short deal 12 hours back when my last short deal closed with a loss. But I am a strict disciplinarian when it comes to the forex market. Hence, I refrained from doing that yesterday, and instead I am doing it now, and I have kind of done it. LOL
Also, for the scalping deal, one short at 1.3461, another long one at 1.3459. Both have a stop loss of 10 pips and a take profit of 30 pips.
I also want to mention that it is the Stochastics and RSI, that make me go firm on my shorting decision. I am very likely to move the take profit and stop loss levels.
P.S: If there is any other update to the trading signals for today, I shall update the same as a corollary to today's post.
