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
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' !