[Sledge]

Cowpip and Anna-
Wonderous depth. Thank you for your clarification!!

Cowpip:
You are indeed correct that the bias is a downward trend, and one would have to be VERY careful in taking a long trade in this situation. As I don't trade this pair personally, figured I could ask this general question off the charts provided. Apologies if I meant to say that anything in forex is a simple- buy here and sell here scenario. As with all trades the utmost eye and keen awareness is critical to maximizing the trade and watching it carefully.

Anna-
Thank you as well. This is a great, sort of, all encompassing post that tidy's up some loose ends in my head. See I'm still at a phase (who knows if this would mature later on in the trading career) that if I were able to grab a 100 pip move- even if on a one day bounce. That for me is a stellar day and one that will put plenty of profit into the account. I'm kind of a chicken s*it in the sense that if I gain 100 pips, I take it and bank $. The pullbacks are for me to re-assess and look to see if their is another opportunity for entry. As you folks are far greater skilled than I am, I would expect (as your clients probably do) that a 100 pip move and peeling off the position would not be acceptable to them. But you guys play in the majors, I'm still in the bush league ;-)

Once again, I thank you both for your contribution and insight. This is by far the most kick-ass thread going on the TL forum- hands down!
Aaron