FOREX PRO Weekly December 03-07, 2012

[squidge42]

long from WPP? what do you think? i dint see any reversal patterns though...

maybe, there's K support here too - accelerating too much though

 

[Kalgan]

I see euro reaching MPP @ 12890....possibly*

 

[Sive Morten]

Good morning,
small add-on to today's update - something like butterfly "Buy" is forming right now. What is interesting is that if it will be 1.618 and market will reverse up - this could give daily stop grabber...

 

[mjunkyard]

Thanks for adding an update!
This is like dream coming true. Getting updates from sive during the day!!
sincerely
Mjunkyard

 

[mjunkyard]

Dear Sive;
I would like to ask you a small question about today's class.
You spoke about moving the stop to the b/e.
The question is when do I move it? In other words; When do I decide that it's not worth it to risk those few pips that I've put as a stop loss for the original trade.
Thanks again
Mjunkyard

 

[squidge42]

50% major retracement (my Euro favourite), combined MPP and WS1 and a BRN psych level of 1.29---surely now?

bounce off the weekly stop grab low too and could finish daily stop grab....

in for a penny as they say.....

 

[FreddyFX]

Dear Sive;
I would like to ask you a small question about today's class.
You spoke about moving the stop to the b/e.
The question is when do I move it? In other words; When do I decide that it's not worth it to risk those few pips that I've put as a stop loss for the original trade.
Thanks again
Mjunkyard

A solution you may want to consider is to start taking little parts of your position out every so many points (I trade 5 dec. platforms).
Personally I don't like to leave any position open very long, but that fits with me being a scalper.

Or use a TS (Trailing Stop), that way you don't need to stay glued to your screens that much.