Tuesday, August 16, 2011

FOE Follow Up

FOE was a long trade idea from yesterday, 8/15

I was looking for a pullback to the yellow or blue moving averages as an entry, that happened.

 The 60 min chart looks great...

 Today FOE is down on the pullback I was looking for, but the 1 min chart is showing improvement.

I would prefer a wider stop on this trade initially, this is the range I would consider and the wider the better, you can always tighten up the stop and add to the trade when t moves in your favor.

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