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Originally Posted by Fet0r
Nina, can we more closely discuss position's exit?
To take live example: Right now we are on short from 2579, how do you suggest to exit ? I thought about taking profit at L3 target (2551) but I didnt cause i thought we might break it on good housing news. My stoploss is on breakeven right now.
How do you react in such situations?
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Half world are waiting the same. Half world are waiting EURUSD to break with fury 1.2551. Half world.
If you can scale, the best thing to do is to close some once it hit 1.2551 and now, as we have news, protect yourself at b/e. Or if you have enough money, just place a stop of 34/40 pips. The point here is: how much did you made if you had closed some?
How much could you lose if your stop is being hit? Result?
Look, if it breaks clearly 1.2551, eurusd could go to 1.2529 - 1.2513 - 1.2489 ...... so, a nice shot. But you can have very bad US data and see how eurusd goes up as a rocket. Who knows? This market is not an easy one. Take care.
To the upside, eurusd needs to break 1.2594 and then 1.2637 and hold above in order to go to its last highs.
Nina