EUR/USD

This is the currency pair that I am most interested to trade recently. It has caught so much of my attention that I almost gave up trading the others.

The EUR/USD like the AUD/USD is most likely to retrace back down to 12880 or 12843 region before heading up north again. While many in the Forexfactory.com are saying that it is still a bear market and it is likely to turn down this week, I have to hold on to my plan to trade this based on PowerWave.

I have a long open trade from 12850 and has just opened a short at 12947. The short trade is not to hedge but to give myself more pips to ride this current down wave to 12850 region. This is my first very ambitious trading but I am more relaxed as I am already into the money and can exit without loss anytime.

Well, let see how this trade plan works out. I am at this time reminded that I must be relaxed, patient and composed - knowing what to do next when the next decision-situation is called for.