March 2nd, 2009
By: Ashley
We have indications of three trades today. Our trading methods indicate a potential short on USD/CHF. Also, there are indications of potential longs on AUD/USD and EUR/USD.
For the USD/CHF, we are going short with two 1-lot trades at market. Initial stop loss is 1.1824 with a take profit of 1.1632 on the first lot. We will keep an eye on it and move our stop into profitable territory to protect us from loss when the price reaches around 1.1715.
We are going long at market on AUD/USD. Two 1-lot orders with the initial stop at 0.6241 and the first lot will have a take profit order at 0.6444. On both lots we will trail a stop behind for 45 pips.
Finally, we are also entering two 1-lot orders to go long at market for the EUR/USD. We will set the initial stop loss at 1.2499 and take profit at 1.2697.
Check back tomorrow to see how our picks make out! How is YOUR trading doing?
|
Pair
|
Order
|
Entry
|
Stop Loss
|
Take Profit
|
|---|---|---|---|---|
| EUR/USD | Buy | Market | 1.2499 | 1.2697 |
| GBP/USD | ||||
|
USD/JPY
|
|
|
|
|
|
AUD/USD
|
Buy
|
Market
|
0.6241
|
0.6444
|
| USD/CAD | ||||
| USD/CHF | Sell | Market | 1.1824 | 1.1632 |
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.
