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Tighten Risk on EURUSD Short

Tighten Risk on EURUSD Short

2011-05-13 19:30:00
David Rodriguez, Head of Business Development
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My sell limit on the EURUSD got triggered overnight, and the trade has since been working out quite well. The pair bounced at the bottom of its short-term trend channel, but I still favor the downside through the near term.

My first real target is at 1.3900, so I'll stay in the position. I'll tighten risk at just about worse than break-even. Depending on your trading style you may want to take some profits off of the table here, but I won't. The stop on my position is now above recent peaks at 1.4340. Hopefully this pans out as planned, as I think this could be the beginning of the correction I've been waiting for.

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