Euro is chopping around this morning. It may be in the final leg of an ABC correction on the hourly chart which could take it to 1.3318 or so. I was profit stopped out of the remainder of my long at +100 pips. There are some mixed signals so I'm staying out for now. I'll see what it does if it approaches 1.3318. Any gains above that will most likely be capped by 1.3450.
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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.