Forex blog – JPY forex fan

A forex blog about making pips in any currency pair

Welcome to my forex blog. I am a great believer in luck and I find that the harder and smarter I work the luckier I get. :-)
January 30th, 2012

Forex Trade #157: Position remains unscathed

jpyforexfan

Miraculously my EUR/USD short position’s stop loss (at 1.3241) has remained intact. So far, that is. EUR/USD is currently down at 1.3150/60

Headlines of the sort Crisis is of “violent,” “unprecedented” kind (French Finance Minister) and ‘Greece faces “the spectre of bankruptcy and all the dire consequences that entails” (Greek Prime Minister) must have helped the Euro take that little dive from 1.3220 to its present value.

Here’s the 4-hour chart of the euro/dollar forex pair as of right now:

The forex market show no mercy for my EUR/USD short position. It looks like every time it appears that it’s renewing the downtrend it gets a massive push upwards. Should I close my position now keeping a profit of over 100 pips? Nah! Never. There’s nothing I can lose with this trade.

I’m moving my stop loss from 1.3271 (which is also my entry) to 1.3241 to guarantee a 30-pip profit.

Here’s the 4-hour chart of the Eur/Usd forex pair as of right now:

December 12th, 2011

Forex Trade #157: Sell EUR/USD @1.3271

jpyforexfan

It’s 09:35am London time. I just opened a short position in the Eur/Usd forex pair at the level of 1.3271
SL: as per my trading plan 1.3271
Target: open 1.00

October 28th, 2011

Forex Trade #150: Short EUR/USD @1.4190

jpyforexfan

It’s about 07:15am London time. I just shorted the EUR/USD forex pair (obstinate as I am after yesterday’s fiasco with trade #149).
SL: as per my trading plan
Target: open

Here’s the hourly chart of the Euro/Dollar: