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Thursday, March 20, 2008

My GBP/USD Trade (19-03-2008)


*Attached chart. Click on it for the enlarged version.

Hello everyone,

Last night I shorted the GBP/USD at the price line of 1.9858 at 11:57pm (Singapore Time) | 3:57pm (GMT).

Price action follow through but I was a little too late but still can enter because it was supported by Slow and Fast [Ash C Wave] was going down, MAs down and [Ash Cross Over] already down and going down further, [Ash Down Up] thick red bar.

My Stop Loss 1.9888 (30pips) and Target Profit 1.9760 (98pips). Risk : Reward = 1 : 3.26

Today about 11:00am (Singapore Time) | 3:00am (GMT), I am like 70pips in the money. Have shifted my stop loss to protective stop at 1.9828 (30pips in the money).

Will update as this trade goes by :)

Peace and trade safe everyone....

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