Hello my friends,
Today was another great day in forex, like yesterday as you saw in perfectsun's post.
Here is the trade for today (GBP/USD):
10.00 GMT (12.00 platform hour): I moved the Reg Channel to make a tighter range. At closing of the bar the candle closed a little above the RegChan but not very much. Also MACD turned UP. The 2 EMAs were already crossed.
10.30 GMT: Candle hits the RegChan and price retraces a little. W%R gives the signal for a good entry point.
At this point I took some risk because the price didn't break the RegChan. So I places a strong SL and that was it.
Entry: BUY 1 lot @ 1.9561
SL: 1.9561 - 10 - 1 spread = 1.9550
Time of trade: 5-10 minutes to reach target
Profit: 10 pips x 1 lot x $10 per pip = $100
That's all for today.
Happy PIPpin' !