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TF2012

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Hold short entered at 1.6120, Target: 1.6005, Stop: 1.6150

Position: - Short at 1.6120

Target: - 1.6005

Stop:- 1.6150

Cable has traded narrowly after yesterday’s rise to 1.6122 and although near term upside risk remains for marginal gain, as broad outlook remains consolidative, reckon resistance at 1.6128-31 would continue to hold and bring another decline, below the Kijun-Sen (now at 1.6096) would bring weakness to 1.6065-66 (previous support and current level of the Ichimoku cloud top) but break there is needed to signal top is formed and bring test of the lower Kumo (now at 1.6049), then 1.6025-30. Looking ahead, break there would signal the rebound from 1.6002 has ended and another fall to this support would follow.

In view of this, we are holding on to our short position entered at 1.6120. Only above said resistance at 1.6128-31 would abort and signal recent upmove from 1.5828 is still in progress and extend gain to previous resistance at 1.6175-78 later.

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  • 5 years later...

There are many trading strategy and indicator used by different kind of trader. I use my own trading strategy which I made in my demo account. When it becomes profitable then I used in real account. Now I am trading with CapitalsTrade. It is a regulated and licensed broker in Vanuatu. It is providing me best facilities like low tight spreads, high leverage 1:500, fast and smooth execution system etc.

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  • 4 weeks later...
  • 1 month later...

That strategy is where we should improve as well as possible, and the ability must also be maximally owned in this forex business, risk forex business is very big that exist, so we must always to continue in the level of better trading ability so that where can trading in able to get maximum result when plunge in real trading. Need a process where the desire to be successful in this forex business

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  • 4 weeks later...

Practically in order to our trading understanding we the traders choose our trading strategies. According to me , if you want to get maximal result by your trading strategy , first of all you have make sure the proper money management approach , otherwise that’s not possible at all to make profit at all with great consistency despite of most powerful analyzing trading strategy. so, it is more important to know how to manage money in Forex trading. 

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