November 11th, 2008
By: Stephanie
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It's November 11th, 2008 and time for our Angel Pair Picks!
We have indications of two trades today.
Our trading methods indicate potential shorts on AUD/USD and USD/JPY.
For the AUD/USD, we will be placing two, 1-lot sell stop orders to enter the market at 0.6538. We are setting the initial stop loss at 0.6765. The first lot will get a Take Profit order of 0.6398 and we will trail a stop on the second lot for 50 pips.
On the USD/JPY, we are selling on a stop at 96.65. The initial stop loss is 99.56 with a Take Profit on the first lot set at 94.86. We will trail a stop on the second lot for 100 pips.
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.
