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Message: [QUOTE="stuart1984, post: 60497, member: 30427"] Hi Nigel Thanks for your response, another batch of very useful information for me to digest. I have only been trading for 6 months and so I am very much still in the early days of what I hope will be a long term means of creating some extra money. I trade a very small account at the moment, I need to prove to myself that I am doing my money justice before I consider investing any more in this project. We all have dreams and one day, maybe I will be able to do this more full time, until then, I aim to "make hay while the sun shines". It is early days with this EURAUD trade but my UNREALISED profits are already more than any single trade I have made in the past so I have some conflicting emotions about where to go from here. The fact that we have now broken down through 1.5 which is a significant round number and an area price has bounced from in recent times (not at my laptop so can't post a chart) I think we could see some continuation to the downside for the next few weeks. That being said, you are right, there will be a retrace and my gut is telling me it will come over the coming week. Price might head back up to 1.5 to trigger some more sell orders, then again, it might not stop there and take us all out. Who knows!! If we close the day without too much of a retrace, I'll be taking off half my second position which will mean the trade has not cost me anything and anything I end up taking from the market will be pure profit. It would be great if you could continue to update the forum on what your thoughts are, I have already learned a lot from your insight and I think it would help me from making any irrational fear based decisions. PS - The XAUUSD I am also in has just broken down through another short term 1HR trendline. I'll be keeping my eye on this also. NZDUSD and GBPJPY are not currently showing any signs of dropping but I will continue to watch my trendlines. Thanks Stuart [/QUOTE]

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