Chart for closing Eur/usd trade today 13 Jan 2010

by Fritz from brainyforex
(Busselton, WA)

Hello

I exited the trade today 13 January as position was not going anywhere. I don't like keeping open positions if they are not moving fast my way. I exited at 1.4494 for a -28 pip loss.

As soon as I closed the position, I could see a short term "short trade" following the five minute, 15 minute and 1 hour chart. I entered and stayed in a few minutes to make +16 pips profit.

Refer chart.

I will wait for another opportunity to go long Eur/usd once it moves above natural square support level of 1.4500.