After reaching a low of 1.6783 yesterday, the pair bounced up and appears to be heading back to 1.6927/52. I took partial profits at 1.6810 for +46 pips and the rest of the pair stopped out at +3 pips.
There are not a lot of clear hints as to where this pair may go next so I'm moving it to the back burner for now.
© Dianne Fecteau, 2010. No part of this material may be reproduced in any form, or referred to in any other publication, without the express written permission of the author.
My purpose in writing this blog is to show you how one trader, me, makes trading decisions and survives while trading Forex. One of the biggest problems I had when I first started trading was trying to apply the “rules” to actual trades. Another was the psychology—limiting losses and letting profits run. If you study my blog, you’ll see how I deal with both those issues. So my writings are not trade recommendations but rather educational in purpose. You have to decide on your own approach to trading. Remember that trading is risky.
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