Quote:
|
Originally Posted by cogia
Daily News for Euro has come with no positve signs for it, so we will see EUR low at 1.1960 forward.
My positin will be: Short EUR 1.2080 sl 1.2145 tp 1.1975, is it ok ?
|
Your position looks fine, because Gbp/Usd is the one pulling majors to the down side. If majors wants to have a bigger retrace to the upper side, we need to see gbp/usd recover first. As long as gbp/usd is in the downtrend, all we see on euro is minor correction to the upper side.
you should reduce your stop loss to 2110, because 2060 is a strong support for euro temperarily. It has been broken, 30 pips is enough to secure your position. additionally 30 pips stop loss is better for the risk reward ratio. It is just how we trade with our systematic signals. So far, we haven't have any good signals yet. except a sell limit signal at 2160, stop loss at 2180.
Best regards.
Forex Sign staff.