EURUSD trade example

Welcome to the brainyforex newsletter special commentary.

Recent EUR/USD trade

As posted on www.brainyforex.com home page.

EUR/USD daily chart 13 October 2009.

The result, see chart below;

EUR/USD daily chart.

Even though our stop loss got activated, the trade moved in our anticipated direction. If we would have had a wider stop loss then we would have been successful.

On the brainyforex home page, the top was anticipated. As the US Dollar had reached a natural square level of 75c, it was time to call a top for this move and exit the trade.

On the 23 October price reached a high of 1.5061, which was 19 pips short of the suggested exit target on that date. That was using end of day trading strategy.

This was the update posted on the home page;
Update 22 October
"If not already stopped out of this long position, get ready to exit within the next 24 hours at 1.5080. Expect price to quickly move up towards this level and then quickly retrace back down again. Refer above market commentary 22 October".

Even though the trade did not work out exactly as planned, we can still see the power using natural square levels for resistance and support levels.

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