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Originally Posted by Trader02
2 more things Soul:
EURGBP on 1H
I'm in the green again on the current short. entry @ 6698 and just placed a stop over the top at 6717.
Question is, should I move the stop right away now to 6696 or should I just leave it where it is?
My logic for wanting to move it to 6696 is that EURGBP has made a new closing low on 1H.
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Secondly, you stated that since this is a countertrend play ...... use tight stops.
Agreed, but my reason for getting into this pair in the first place was for the continued DOWN -- soon to come (IMHO) based on the DAILY timeframe.
I've been focussed on 1H and 15-min. only for timing purposes to catch this supposed intermediate top.
So my aim was to catch the next downleg.
If my thinking is flawed, kindly correct ...
Thanks  |
i wouldnt trade eurgbp if you paid me - total waste of time is that pair.
if you are looking to get into the swing down on the daily then why are you moving stops based on the 1 hour? - if you are trading the daily you move stops on the daily - if you are on the 1 hour then you move stops on the 1 hour or lesser charts - which is it?
In any case i would be going long on eurgbp if it were worth a piece of snot and a baloon not short, but that's just me