FX portfolio: Long EURUSD on a breakout
Updated
We can look to enter longs if the Euro manages to break out above the last daily high next week.
NFP created strong volatility, which followed by a series of Fed speakers and oil data, led to a close near the highs after shaking everybody out (myself included). I managed to cover my short before losing any money, but my first long attempt failed.
We can try once again, if next week we break above resistance, which would create a rapid move to the upside, giving us a low risk opportunity. I reccomend risking 0.5 to 1% on each trade. this is no exception.
Have a nice weekend, cheers!
Ivan Labrie.
NFP created strong volatility, which followed by a series of Fed speakers and oil data, led to a close near the highs after shaking everybody out (myself included). I managed to cover my short before losing any money, but my first long attempt failed.
We can try once again, if next week we break above resistance, which would create a rapid move to the upside, giving us a low risk opportunity. I reccomend risking 0.5 to 1% on each trade. this is no exception.
Have a nice weekend, cheers!
Ivan Labrie.
Note
Price can't break above the resistance, I'm shorting if we break below last Friday's low, and cancelling pending buy stops.
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