News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bullish
More View more
Real Time News
  • The S&P 500 has broken beneath an important trendline from March 2020 as losses mount. Get your S&P500 market update from @PeterHanksFX here:https://t.co/aAc3vrKr7M https://t.co/RwQajLrpJy
  • USD/CAD briefly traded up to 1.22 before retreating to its current level around 1.216 $USDCAD https://t.co/eNc4JmYfKI
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.36% 🇳🇿NZD: 0.36% 🇯🇵JPY: 0.22% 🇦🇺AUD: 0.03% 🇬🇧GBP: -0.03% 🇨🇦CAD: -0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/BnPd5x9Xua
  • RT @BrendanFaganFx: Dow Jones Analysis: Stocks Rebound From Recent Losses as Disney Earnings Disappoint $DIS $ABNB $DASH Link: https://t.…
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Gold: 0.62% Silver: 0.17% Oil - US Crude: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/vBHmVNt8z6
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.98%, while traders in GBP/JPY are at opposite extremes with 71.20%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/n58Eh53VNG
  • Seems everything eventually gets the hipster treatment. Seems at present, the appetite is for artisanal carbon neutral blockchains. Well, not artisanal.
  • Disney Q2 Earnings: Revs: $15.61B vs. $15.85B est. EPS: $0.79 vs. ($0.32) est. $DIS
  • Fed's Bullard: - US to move from "recovery to "expansion" by the end of June - Fiscal policy to help households performed way above original expectations
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.41% France 40: 0.33% FTSE 100: 0.27% Wall Street: -0.03% US 500: -0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/8RrQPqFHBL
Placing Stops and Limits

Placing Stops and Limits

Richard Krivo, Trading Instructor

Instructor's Response:

You are correct...it will be covered later but just to provide you with an overview, take a look at the chart below...

The black line labeled Entry represents the point the trade will be entered short.  The pair will be sold at that point as it broke through a level of support.  The Stop, the red line, will be placed just above a previous level of resistance.  The Limit, the green line, will be placed at roughly double the amount of the stop so that a 1:2 Risk Reward Ratio is in place on the trade.

Conversely, if the trade were a long position, in other words the trader was buying the pair, the stop would be below the entry and the limit would be above the entry... the reverse of what is on the chart.

To place stops and limits on a trade, in each case the trader would specify the price at which they would like to be taken out of the trade.  In this instance represented on the chart below the stop would be at 1.4693 and the limit would be at 1.4397.

Chart 12 21 09


 

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES