26 May 2008

EUR/JPY Day - profit added - 10 pips

Hello my friends,

Today was another great day for trading in Forex using my strategy.

Here is the picture of the trade:

5.30GMT: Price breaks the RegChan and white TL and closes above them.
7.00GMT: Price makes the 2 EMAs to cross for the first time, but MACD is still down.
11.30GMT: Price makes the 2 EMAs to turn for the second time, MACD is still down but it shows optimism to turn up.
12.30GMT: MACD turns up, W%R is UP, we wait for a retrace of the price and watch closely the W%R indicator to go bellow -20.
13.30GMT: Price retraces, MACD still up, W%R retraces bellow -20 and didn't cross with RSI.

Entry: BUY 2 lots @ 163.00 (another sign that we can enter without problems is that price retraced exactly to 163.00 that acted as support)
Target: 163.10 (reached)
SL: 163.00 - 10 - 2 (spread) = 162.88 (never reached)
Time of trade: 25 minutes

Today's profit: 10 pips x 2 lots x $10 per pip = $200

Another pair that gave a signal was EUR/USD but I got only 3 pips from that one because trade was taking too long and I got out "flat" with those 3 pips in profit. (It happened @ 12.00 GMT)

That was all for today.

Happy PIPpin' !

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