FOREX New York Session Video October 18, 2007

The EUR/USD had been riding the 5 EMA on the longer timeframe charts throughout the day's prior trading sessions. A bounce on the 21 EMA and subsequent 5/8 cross appeared just before the New York session began. Traders who took the entry at the 5 EMA enjoyed a quick ride to the 1.43 area -- a new all-time high for the euro. The outcome: 30 to 40 pips (depending on the exit strategy).

Category:

Howto & Style

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• Forex
• Training
• Currency
• Dollar
• Money
• FX
• 4X
• trader
• Foreign
• Exchange

[welshguy2000]

Kurt - if your a more conservative trader shouldn't your risk be smaller & therefore u'd place your stop above the M3? Also your risk should be a 1/3rd of your target - so surely your risking more than what you can make?

cheers