New short Setups (ADD) to the Euro FX and Monday’s risk management (English Language)

Dear traders,

this morning I have added to the short on the Swing Trading Model Portfolios. I added to the position based on the fact that we had a setup on the 15min which was going to break the 1.2953 level that would confirm the 1.2830 target, that is also the final target for my current swing short position. On the add whose details follow, I will exercise a soft stop risk management, because I don’t want to be stopped out in case we get volatility today during the FOMC. I don’t think price will get above the 1.3029 level, however. Hereunder are the detail of the new trade:

SELL 6EZ12 at 1.2975, stop-loss 1.2994, target at 1.2830

Hereunder is my twit at 9.34 AM Italian time (GMT+1)

Last Tuesday’s October 23rd during the night (Asian session) the Euro retested the 1.3080 level and I did some risk management because second tests are always dangerous tests. Thus I removed one of my positions (the one opened at 1.3043) at 1.3076. I preferred to book a small loss of -0.58%, and had no problems with it, rather than a full 1% in case the Euro would not have respected the setup. But the Euro did respect the short setup and the other two positions, along with the third one added today, are producing nice profits (as I write the Swing Trading Conservative Model Portfolio shows a +5.24% profit, but the intrinsic value of the total short position at the 1.2830 target is valued at +17.44%)

Hereunder is my twit at 1.44 AM Italian time (GMT+1)

I will updated the Model Portfolios Performance with the result of the trade as it goes and will update the list of trades.

Have a great day


Leave a comment

Filed under English language, Euro FX setups and trades

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s