Tips & general help to make you a better trader by 
Hi Folks,
Todays video showing the potential trade set ups that are developing for me today.
Have a good days trading
Phil
- Weekly FX Street Presentation Every Wednesday at 10:00 gmt
- Trading Breakouts Strategy - ARTICLE
- Trading Breakouts Strategy - VIDEO
- FX Street Members Discount to my Daily Live Trading Room
Hi Phil
The eur/usd broke the range at 1.4722 which means price should go up, but right now it is retracing all the way back down again. Should we go long now assuming this is a retracement, or was it a head fake, and price should fall much more?
Cheers
Tom
HI Tom,
Just seen your comment now… which I suppose the market has answered your question.
It did break the range yes which I did take and as you will see on your charts didnt go much further. The trade shoudl haev produced a scale out but if I’m honest I made an ordere placement error (a rare thing for me) and missed my scale out. This would have meant that while the trade didnt follow through it would not have cost me anything other than time invested in the trade.
Regarding todays euro (25th) price has already put in an average days move so I will be looking for a deep retracement and use fibs to refine an entry level… as I type euro is at its 38% fib and I need to see that down at the 50% fib before I will consider it.