EURAUD – Just a nice chart – Part 3: Final element stopped out +50

Well after EURAUD’s stratospheric climb yesterday (it climbed faster than a Tornado F3….but that’s not really much of a compliment) it was no surprise to see it teeter at new highs, print a nice reversal pattern and then roll-over and rapidly fall back to earth (once again, very much like a Tornado F3).

My stop had been moved in line with my plan and now sat at 1.3672, 50 pips in front of my entry at 1.3622.  I thought it looked vulnerable…and this time I was right.  Overnight price went down touched my stop level and closed my final portion (with slippage) for a smidge under 50 pips.

 So in two parts I took a total of +154 and +50 points from the position. I’ll be interested to see where EURAUD goes from here however at the end of the day I planned my trade, traded my plan and manged my risk so this was a successful trade.  My one learning point was to ensure my rules for ‘jobbing’ around a position are in place and watertight.  There was a great opportunity here to job around my main position and re-invest some of the profits from the 1st part of the trade into a tight reversal trade short after price hit T1.  But that’s for another day.

Overall a nice trade.  Until next time, trade well.


, , , , , , , ,

About FXTraderPaul

A professional Trader and Coach, FXTraderPaul blogs about his adventures from the front-lines of FX Trading. A Trader and educator who can walk the walk as opposed to merely talk the talk!

View all posts by FXTraderPaul


Subscribe to our RSS feed and social profiles to receive updates.

One Comment on “EURAUD – Just a nice chart – Part 3: Final element stopped out +50”

  1. Mike Babbit Says:

    I found about your site on yahoo and read a few of your early posts. I hope you will continue the very good work. I just added your RSS feed to Feedburner. I’m seeing forward to reading more from you later on!



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 )

Facebook photo

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

Connecting to %s

%d bloggers like this: