Last week had several potential trades but the benefit-risk ratio was not right for me. I did not trade significantly last week. Amoung the potential trades were:
- The mentioned Eur/Sek 8h chart bullish position reached recent high as predicted by Elliot Wave. Did not trade this as this method is not my expertise and the benefit loss ratio was not right for me.
- The Eur/Usd made a broke the 50sma box on the 4h chart on Mar-28-2011 about 8am est. It reached a recent high 1.4240 from 1.41. Stop would be around 1.4010. This pair was traded on a small scale.
- Of the mentioned weekly positions last week, the NZD/USD pair bullish took off to the upside, the GBP/AUD short merely moved. In this last pair, I was expecting a significant recoil to place a trade but this never materialized. Need about a 50:50 win to loose ratio to enter a trade. Observing it this week.
- Disclaimer: I trade the patterns depicted either at the entry point stated (e.g. trading channel, breakouts) or afterward. Although my trades are based on technical analysis, trading forex is a risky activity and may produce significant monetary loss. I only make public the trades that I am considering to make, or made and the rational for them. Not intended necessarily as trading recommendations. By Andres Britt-Larregui, SurpriseTrade@gmail.com
