toyogo00
12-04-2008, 08:07 PM
Hi,
This is a good example of trade that shows you how to avoid a huge loss by using Fibonacci level for stop loss setting.
Setting up:
EURJPY has a shorting opportunity along the downward trend line and Fibonacci resistance at 121.00. However the stop loss should be set just above 121.00 and never let it goes above 122.00.
http://www.dailyforexcharts.com/charts/081113_EurJpy_t9/081113_EurJpy_t9.html
A huge loss is avoided with proper stop loss management:
If you do not exit at the low of 188.50, the stop loss will definitely protect you against a huge loss when the pair shoots up to 126.01
http://www.dailyforexcharts.com/charts/081116_EurJPY_km/081116_EurJPY_km.html
Regards,
Toyogo
This is a good example of trade that shows you how to avoid a huge loss by using Fibonacci level for stop loss setting.
Setting up:
EURJPY has a shorting opportunity along the downward trend line and Fibonacci resistance at 121.00. However the stop loss should be set just above 121.00 and never let it goes above 122.00.
http://www.dailyforexcharts.com/charts/081113_EurJpy_t9/081113_EurJpy_t9.html
A huge loss is avoided with proper stop loss management:
If you do not exit at the low of 188.50, the stop loss will definitely protect you against a huge loss when the pair shoots up to 126.01
http://www.dailyforexcharts.com/charts/081116_EurJPY_km/081116_EurJPY_km.html
Regards,
Toyogo