29 April 2008

GBP/USD @ 1.9871 SELL + 10 pips x 2 lots Profit

Hello my friends,
I am back for today's trade, it was a real success and as I wanted, I recovered the loss from yesterday's failure and added some more profit because of perfect setup that happened earlier today.

Here is the chart:

I placed a Trend Line (green) between 2 important points (see the chart).
Early in the morning the 2 EMAs crossed very shy, around 2.00 AM GMT
6.00 GMT: Price breaks the RegChan, but not the TL, and also MACD turned down
6.30 GMT: Price breaks also the TL
(Please notice how TL and RegChan "work" together - this means no angle between them and their levels must be taken into consideration very serious.)
7.00 GMT: Price retraces and W%R confirms by going above the -80 level
Isn't this Setup Perfect ?

So, we enter with confidence:
7.00 GMT: Entry, SELL Order with 2 lots @ 1.9871
Target: 1.9861
Time of trade: approx 5 minutes
Target reached !!!

Profit: 10 pips x 2 lots x $10 per pip = $200 (-$40 from yesterday) = $160

That was all for today. Huh ! So much hard work :)

See you tomorrow !

And Happy PIPpin' !

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