Missed Trade for 3/11/2010 (EURUSD)

Published on Thursday March 11th, 2010 at 11:15AM by buruguduy

Missed a couple of easy trades today on the EURUSD. Just a simple bounce from today's low and week open price. I didn't take thee trades because it was just way to close to the falling trend line from the 4-hour chart. I was afraid that it was just consolidating before a major move down. I guess you could say I was correct in saying that the pair was consolidating... But then again, the move down never came and the pair just kept bouncing and bouncing and bouncing from the Asian session lows, right at the week open price.

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    On Thursday March 11th, 2010 at 12:23PM by FXDude

    On a situation like this, think about it this way...If you were wrong and got a move down, you'd be wrong once... If you were right, which you were, you would have been right 3 times... Remember that we can never know the outcome of a trade, but what gives you the edge is take those scenarios that give you a high risk to reward ratio...3:1 is a ratio I'd take any day...

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