Ding ding ding ding! The voting period is over, and now it’s time to give props to the winner! (Hey, that rhymes!)
For this week, the trader who will join the ranks of the Trade of the Week Hall of Famers is none other than
PureMuscle!
Check out his trade idea on EUR/USD:
Long or Short: Long
Entry Point:1.4156 (market)
Stop Loss: 1.4070 (below the 38.2 fib level)
Profit Target/s: 1.4350, 1.4400
Reward-to-risk Ratio: 2.33/3.33: 1
Risk percentage: 1%
Indicators used: Chart pattern (Pennant); Fibonacci retracement
To know more about his fundamental reasons for the trade, you can head on over to the forums and read his entry.
Alright, that’s it for the competition this week! Check out your screens again on Friday to submit your trade ideas for the next round of the Trade of the Week contest! Who knows, maybe you’ll become one of the Trade of the Week Hall of Famers!
Voting
The submission period is over, folks! Now, it’s time to put these trade ideas to the test. Which one do you think deserves to be the Trade of the Week?
- EUR/AUD Long by donnapinciotti
- EUR/USD Long by PureMuscle
- GBP/JPY Short by Justin Pipper
Remember, the poll will close at midnight EST on October 30, 2011, so cast your votes now!
