Hi everyone. Here is an update on my eur/usd long position I discussed in my previous trading journal update. So far so good I’m up 400 pips and counting. EUR/USD has taken a breather around the 1.3290 price area, but the European session is soon due to start so maybe the Europeans will push this baby further up. C’mon London, you can do it 🙂
So to recap. I entered long with two identical positions at 1.28750 and now price action is at 1.32920. Trade were taken on my live MB Trading account.
I want to show you a chart of eur/usd bouncing off the top of the H1 SHI Channels but I’m not in front of my computer at the moment so I can’t take a screenshot unfortunately. Suffice it to say in my opinion entering long at this price level is a risky proposition. If price continues to break above resistance levels then it is a further confirmation that the uptrend is continuing to unfold, thus placing a long position (if you’re sort of ‘late to the party’) could be OK.
My long term profit level is 1.34xxx. I think the eur/usd will at least touch 1.33.
OK, that does it for this update. I wish you all many pips!
Cheers,
Alan