26 March 2008

GBP/USD @ 1.9991 SELL + 10 pips x 2 lots Profit in 10 minutes

Hello my friends,

Today was a extraordinary day for trading, specially for me or for my strategy.

Here is the chart (excellent sample for retrace and continuation of a mini-trend):

2 EMAs crossed at 10.30 GMT
MACD turned down at 11.00 GMT
W%R retraced as I expected

Entry: SELL @ 1.9991 with 2 lots
Target: 1.9981
Stop Loss: 2.0003 (0 pips spread)
Time of trade: 10 minutes
Target reached: 1.9981

Profit: 10 pips x 2 lots x $10/pip = $200

So, another $200 for today, thanks to GBP/USD.

I will get back later today to explain how long to stay in a trade and when to exit (I will refer to EUR/USD chart from today and what happened at 6.00AM GMT

Happy PIPpin' !

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