Daily Limit Signal: EURUSD & GBPUSD

EURUSD
Trade: Sell Limit EURUSD (pending order @ 1.3667)
Stop Loss: 1.3720
Take Profit: 1.3575

Commentary: Daily Limit trading strategy. Today’s signal was sent out near Wednesday night 23:00 GMT. It expires in 24 hours, Thursday night 23:00 GMT, if not triggered. If triggered and it does not close due to the Take Profit or Stop Loss, then it will be re-evaluated at Thursday night 23:00 GMT.

Update (03/11/2010 16:15 GMT): EURUSD price action rose and reached our sell limit order earlier. We are short EURUSD at 1.3667.

Update (03/11/2010 16:15 GMT): EURUSD did not reach our take profit or stop loss. There is resistance in EURUSD, so we are going to stay with this trade for another day. If it does not reach its take profit or stop loss before the weekend, then close it shortly before the weekend. It should not be left in over the weekend.

Update (03/12/2010 16:14 GMT): EURUSD price action rose and reached our stop loss at 1.3720. We are out of the trade at 1.3720.

Trade Status: Closed. Pips: -53

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GBPUSD
Trade: Sell Limit GBPUSD (pending order @ 1.4999)
Stop Loss: 1.5055
Take Profit: 1.4901

Commentary: Daily Limit trading strategy. Today’s signal was sent out near Wednesday night 23:00 GMT. It expires in 24 hours, Thursday night 23:00 GMT, if not triggered. If triggered and it does not close due to the Take Profit or Stop Loss, then it will be re-evaluated at Thursday night 23:00 GMT.

Update (03/11/2010 16:15 GMT): GBPUSD price action rose and reached our sell limit order and stop loss earlier. We were short GBPUSD at 1.4999 then out at 1.5055.

Trade Status: Closed. Pips: -56