Posts Tagged ‘trade’

Do you leave your trades open over the weekend?

Friday, October 15th, 2010

I do, well… it depends, if there is no G7 meeting and I have a more than 80-100 pips in my favor I keep them open, otherwise I just close them.

This is the case for my GBPUSD trade which I opened yesterday, it was trading around my entry level, so I decided to close it. The market only has a slim chance to change its sentiment, but it is still possible.

Another possibility is that the market could gap against me, and since there is not enough room, the best thing to do is just to close my trade.

Have a great weekend!

Raul Lopez
Forex Training

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Short AUDUSD

Monday, February 2nd, 2009

A short trade in the AUDUSD has just been triggered.

The long term charts in the AUDUSD are behaving just in a pretty big range in between 0.7242 and 0.6080. Of course there are several important levels in between those two extremes, one of them being 0.6350. The market bounced off that level and gave us a short signal.

So right now I’m short at 0.6305 and I’m looking to take profits around 0.6110. If the market goes against me, I will take a loss above 0.6360. I will also watch closely how the market behaves at the next short term support level 0.6253, will see what happens…

Good luck in your week! I’ll keep you updated about the development of this trade…

RL

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Posted in Technical | Comments Off