Time to book profit in EURUSD | 12-Sep-2011

Here is the current technical chart of EURUSD currency pair using Doda-Donchian, Doda-Bbands and BBSqueeze dark indicators.

On 30-Aug-2011, Doda-Donchian gave Sell signal on this currency pair. On next trading session, it was confirmed by Doda-Bbands; and thus started the downward journey to a total of about 825 pips at the time of writing this post.

In this journey, EURUSD has broken some important support levels and now it’s trading near its major support level viz. 1.3612. I suggest you to book profit at this stage as one bounce back from this important level can not be ruled out. Even looking from another angle, a trader sitting on such a HUGE profit should not be greedy and thus control your emotions and convert your screen profit to actual profit. There is always next time.