EUR

correct, first consideration 'how much am I willing to risk'
and 'make it stick' otherwise it becomes floating crapshoot..

Letisha: right..don't sweat it..use the stops, bring to BE early, but
you need longer time frame to let trade breath, of course..you sound like good experienced trader, maybe need more capital..for some room to grow..

You see my trade now has captured risk down to low range with the 'hedge'
no stops, will either add to the pair that gains some momentum or reduce the neg side..nbank the positive side...allow neg to retrace back to profit..

pair trading very low risk, can get all the pips on dips and rallies..

don't mean to be preachy..

@ Ignore.....I'm flat on the EURUSD now...I covered my position on that H1 move...will re-enter if a better buying opportunity pops up.....was in USDCHF earlier @ 94319 set mt SL 10 pips below the previous day's low...seem like they hunt my stop as I was stopped out a measle pip and then price reverses....bummer!!!!!!!!!!!!! I just didn't want to risk not trading with a SL...that's what I do in the days...but since I was off to bed I force myself to put one in place....just my luck!!!

@catnip nice man i wish you good luck for this time aswell. As far as i know the markets they play on our greed and with the passage of time i have started a contrary approach my guess is market will break this 1.780 resistance however may not touch 1.40 or may make a false break at 1.41 . I am following the same technique on GBp as i dont believe in H&S pattern to be effectively controling the market but it is there so people can go short on it so that it can be taken down with a false break and analysts will justify that there was no daily or weekly close above 1.6060 so the pattern remains there and most of us who will heavily short at 1.6060 will end up frustrated watching GBp touch 1.61 or 1.62 and than fall like a stone .

I haven't applied Ignor's model to this one but might do that. My initial target is the symmetry from the move up to 3550 taken from the next low at 3347. Beyond the 100% sym level I have the 127.2% ext at 1.4145 but gettin ahead with that one yet. Nearly always get a reaction at least at the 100% sym level so I always take some off there and sometimes take all off. Ok, now the darned mkt will trash by falling shy of the level :-)