March 22nd, 2009
By: Danelle
We have several indications of trades today.
Our trading methods indicate a potential short on USD/JPY. Also, there are indications of potential longs on the EUR/USD and GBP/USD.
We placed an order to sell two lots of USD/JPY on a stop. The entry price is 93.98, with an initial stop loss of 93.75. We set a take profit order for the first lot of 92.35, and if we hit our target will let the second lot run, after moving the stop loss to 92.75.
For EUR/USD, we placed an order to buy two lots on a stop. The entry price is 1.2874 with an initial stop loss of 1.2770. The first lot has a take profit order at 1.2980, and if we hit our target we will move the stop loss on the second lot to 1.2930 and let it run.
Also, we placed a buy-stop order for two lots of GBP/USD. Entry price of 1.4514 with an initial stop of 1.4410. Our take profit is set at 1.4620, and if it hits we will move the stop on the second lot to 1.4570 and let it run.
Check back tomorrow to see how our picks make out!
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.
