FOREX PRO Weekly May 23-27, 2011

[Sive Morten]

EUR/USD Enter

According to our trading plan market has hit our level - 1.42
Speaking about bullish patterns I see stop grabber on hourly and nice bullish engulfing on 15 min.
Anyway, if you bullish - you may try. But decision is up to you. My post is not an offer to enter anyway.

 

[sanders]

Please, its all in the PDF.

 

[Icarus]

Hi Icarus,
you can tune the trend line tool -to show you not as the ray, but as just stick - from point to point.
the major feature of AB-CD pattern is that C point could not be outside an AB move. BC move is a retracement of AB.

I understand. Thank you.

 

[hollywood1111]

According to our trading plan market has hit our level - 1.42
Speaking about bullish patterns I see stop grabber on hourly and nice bullish engulfing on 15 min.
Anyway, if you bullish - you may try. But decision is up to you. My post is not an offer to enter anyway.

Hi Sive.
Thanks to your analysis, I entered long at 10,50 GMT, when EUR/USD was 1,4218. I opened 2 positions, with the first take profit at 1,4240, and the second at 14300. Stop loss for both was 14182. When I got the first TP I moved the SL of the second position to BE. Then I hit my second target too.
Do you think my enters and exit where good? I'm a beginner.
Thank you

Andrea

 

[georgeta]

B&B

Hello Mr. Morten!
I think you are the last man standing who believed in this Weekly B&B until the last possible moment. You are my hero!
Have a nice weekend!

 

[jimmy.wibisono]

Please, its all in the PDF.

Hi Sanders,

thank you for giving something valuable, but it certainly will require more time to learn to understand it.

 

[Sive Morten]

Hi Sive.
Thanks to your analysis, I entered long at 10,50 GMT, when EUR/USD was 1,4218. I opened 2 positions, with the first take profit at 1,4240, and the second at 14300. Stop loss for both was 14182. When I got the first TP I moved the SL of the second position to BE. Then I hit my second target too.
Do you think my enters and exit where good? I'm a beginner.
Thank you

Andrea

Hi Andrea. When you intend to open position - you have to check risk/reward ratio, it should be greater or at least equal 1 and your stop loss should be reasonable - i.e. placed so that if market will touch it - it should mean that your initial context for enter has been negated. Thats the major idea.
Concerning porfit, well, this strongly depends on analysis and strategy. Here is difficult ot answer - was it proper or not. From risk/reward point of view it looks nice.

Hello Mr. Morten!
I think you are the last man standing who believed in this Weekly B&B until the last possible moment. You are my hero!
Have a nice weekend!

This is only half of a way - will it reach 1.4550. That's the qestion now.