Simple's Green Room

[pennies2007]

Yeah, I've noticed that happens pretty often. I thought I was going in pretty safe on EU with an order 50 pips above the suspected target but it's just one of those things...LOL! I usually try to get in ahead of the crowd but sometimes I miss. But, I've disciplined myself to not chase after it later. I've gotten burned a lot of times trying to chase a pair if it doesn't hit my entry target. No telling how many pips I've given away there.

I do the same thing you're talking about when getting ready to take profit. I'll usually get out of the trade before it hits the support or resistance line just to make sure I get what I want out of it.

I also try to watch the even numbered stuff. The big ones are 00, 20, 50, and 80. Those are great pivot points for these things. They stall out at those levels all the time.

The median ones in between provide support and resistance as well, like 35, but not as much as the big even numbers.

I'll also use fractal averages. If there's no news and a pair like EU has moved 50 to 60 pips, I know it's about time for a reversal based on that pair's history. That gives me a heads up for exits and entries as well.

Lots of ways to skin the ole Forex cat. I'm just glad we have the tools at our disposal to be able to catch some of the action.