Voting time is over, folks! S
EVEN entries were submitted this week, but can you guess which setup won as the Trade Idea of the Week?
The winner is none other than…
Scooping up a total of 21 votes, it’s not hard to see why people voted for his simple short Cable trade setup.
He used a falling trendline and an overbought Stochastic signal to support his trade. Here are some more details:
Long or Short: Short
Entry: Market (1.6150 – 1.6220)
Stop Loss: 1.6300
Profit Target/s: 1st: 1.5820; 2nd: 1.5650; 3rd: 1.5340
Check out his trade’s forum thread if you want to know more about his trade idea! There, you’ll find everything you need to know, such as the potential reward-to-risk ratio, indicators used, and his trade rationale!
Congratulations, fedegmail! You’re now a member of the Trade of the Week Hall of Fame! And for winning this week’s contest, you get to donate $10 to a charity of your choice in our Golden List of Charities!
Of course, we will also be donating $7 to the charity of the month, Greenpeace, on behalf of the 7 brave souls who submitted trade ideas this week.
That wraps up another edition of Trade of the Week! Thanks for participating, everyone. We’ll catch you all again on Friday!