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Tuesday, August 18, 2009

EUR/USD Trade Strategy

For those night hawks, I am still tracing the EUR/USD count and have just placed the following trade. FYI: The wave count from the previous trade looked like it could have been part of a larger wave correction, and protecting profits is not a bad strategy when another entry point when the direction the market is going to take begins to reveal itself.

EUR/USD
Sell one unit at 1.41400, SL=1.41600, TP=1.40
Risk: 25 pips
Reward: 140 pips

From the Desk of
Aaron Reid

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