/biz/ - Business & Finance

FXTrader !!zisA0jHnxs2 Tue Feb 18 00:44:52 2014 No.61222 [View]
File: 96 KB, 1489x723, trade.jpg [View same] [iqdb] [saucenao] [google]

Wow this thread really picked up.

Thought I'd just post a trade and explain how I look at things, might help some guys out who want to better understand what's going on.

So this is a short of the GBP/USD. In the pic you will notice 2 trend-lines, now what I would do is first I'd decide what I want to do, Buy or Sell, since the price is right at a key resistance point I decided to sell but as its against current momentum I am going to watch it very carefully. There are 2 trend-lines, the buy trendline is sloping up and the sell trendline is sloping downwards, these represent (to me) the best R/R.

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