08 April 2008

EUR/USD @ 1.5715 SELL + 10 pips profit in 5 minutes

Hello my friends,

After almost a week of "holiday" I'm back with today's trade. It was a little risky but 1 lot worth it :)

Here is the chart:

11.30 GMT price broke the mini-TrendLine and the RegChan. (I attached a detailed picture to see the trend line), but MACD was still positive.

12.00 GMT price turned the MACD to negative and also made a little retrace and the risky part was that W%R wasn't clear above -80, was at -80.51 and that meant I broke my rules to enter a trade.

I am aware that when I broke my rules I might end losing that trade and the possibility to lose is HUGE, but that's part of the game and fun :) Now I was lucky, next time I better be more careful because we expect volatile times :D

12.00GMT Entry: SELL @ 1.5715 with 1 lot
Target: 1.5705
Stop Loss: 1.5735 (maybe that why I entered, because price closed UNDER the RegChan and I was almost sure that price will move at least 10 pips in that direction for at least 10-15 minutes)
Time of trade: 5 minutes or less

Profit: 10 pips x 1 lot x $10/pip = $100

Well, that was all for today, I'm out for fitness hour.

Happy PIPpin' !

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