February 3rd, 2009
By: Stephanie
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It's February 3rd, 2009 and time for our Angel Pair Picks!
We have two indications of trades today.
Our trading methods indicate a potential shorts on EUR/USD, AUS/USD and GBP/USD.
For the EUR/USD, we are setting an order to go short 2 lots at market. Our initial stop loss is set at 1.3074 and for one of the lots we are placing a Take Profit order of 1.2864. We will trail a 55 pip stop on the second lot.
We placed a sell order for 2 lots of AUD/USD at market. Initial stop loss of 0.6580 and on one of the lots we are setting a Take Profit order at 0.6370. Just like before, we will set a 55 pip trailing stop on the second lot.
For the GBP/USD, we are also setting an order to go short 2 lots at market. Our initial stop loss is set at 1.4491 and for one of the lots we are placing a Take Profit order of 1.4281. We will trail a 55 pip stop on the second lot.
Check back tomorrow to see how our picks make out! And let us know how YOUR trading is doing!
IMPORTANT NOTE: These are not Forex picks nor Forex recommendations. This information is provided for educational and informational purposes only. Use this information at your own risk. You MUST apply your own trading methods and your own opinions to an Angel Pair Pick to determine if a trade should be considered. Also, you do not need to trade all of the Angel Pair Pick pairs, nor should you. There's no need to place more than a few trades on any given day and our recommendation is when you get to 6 open positions, don't add any more trades until one of them is closed out.
Note: Forex, futures, stock, and options trading is not appropriate for everyone. There is a substantial risk of loss associated with trading these markets. Losses can and will occur. No system or methodology has ever been developed that can guarantee profits or ensure freedom from losses. No representation or implication is being made that using Angel Pair Picks will generate profits or ensure freedom from losses.
