Discussion in 'Trading' started by failed_trad3r, Feb 5, 2010.
I am short at 1.3920, would you cover or let it run?:eek:
It's a good trade. I'm in from a bit higher and increased the position around your entry. If in doubt, just place your security stoploss to breakeven or take some profits. But for now I see no significant reason to exit this position, except for fear of bounces etc.
The trend is still downwards. What we witnessed was a broad based short covering rally going into the weekend, affecting more than just the dollar. I expect that price will consolidate next week on lower volume and then it will resume its dominant down trend, so hold your position.
The euro could bounce pretty hard here in sympathy for general equities and commodities. Trading is never easy.
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