Welcome to fenaghfx

This blog is not for specific trades,but to share my experience and what I have learned over the last few years, Trading involves significant risk and may not be suitable for all investors.

About Me

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I have been trading since 2008 in the fx market, trading mainly eur/usd my approach is technical,using support/ resistance .But always keeping one eye on the news

Wednesday, May 25, 2011


Here is the perfect reason for tight stops, I bought just above blue line because of long tail to left, looked like minor support, Trade was ticking my way ,was up 2 pips and was just moving stop to -4 when news broke on Greece, the move down was about 40 pips ,I was very happy with this losing trade,probably my best trade this week. Notice first pullback, first chance for buyers to get out close to break even, some times can be hours days or longer ,I did sell here but got stopped at be, Support becomes resistance. Good luck and tight stops.Dave

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