The pair has reached it's target area of USD 1.2030 levels which I have projected 2 weeks back and now expecting it to turn down. Although the pair still has potential of retesting the prior swing high of USD 1.2090. Now crucial level to watch out for is USD 1.2090 where wave(b) is likely to conclude and turn down for wave (c). An early sustained break above USD 1.2090 shall continue to push the prices further higher towards USD 1.24 levels hence has to be carefully watched.
I am invested in EurUsd Pair at 1.187 level for short calls. Will it get to this level before heading up? Will appreciate your valuable advice.
Thank you and wish you a wonderful year ahead...
SusmitBanerjee
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@gaff_xec, I am expecting it to reverse towards USD 1.1550/1.1475 levels before heading higher. Lets see how it plays out in coming weeks. By the way what is your stops for that position and what is ur target?
gaff_xec
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@SusmitBanerjee, Hello Susmit, my targets has been 1.18 , 1.175 , 1.165 with a sl at 1.121 ( increased lately)
@SusmitBanerjee, yes indeed..... I know its incorrect and against the financial risk
managment
SusmitBanerjee
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@gaff_xec, Trade with proper risk management and with the market trend. This particular trade is against the market trend from where you sold. That was not a selling level. Lets see how the market plays out
wealthyl
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@SusmitBanerjee, hello is it advisable to close the sell position and place buy? My sell was @ 1.18920 lot 0.50
Now floating lost -$670 though sl is 1.20600
SusmitBanerjee
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@wealthyl, Hi, Sorry to say that I can't suggest you anything regarding this particular trade as the trade was taken by you based on certain analysis done by you and managing your risk and reward ratio.The only thing that I can tell is your Stop Loss @1.2060 is not a safe one.
Thank you and wish you a wonderful year ahead...