My EUR/USD Trade (03-04-2008)

*Attached chart (Before). Click on it for the enlarged version.

Hello everyone,

My trade today on the EUR/USD. Shorted at the price line of 1.5620 at 4:30pm (Singapore Time) | 8:30am (GMT).

The reason being. 4hourly chart, Slow and Fast [Ash C Wave] down and [Ash Cross Over] down. I have decide to be on the seller side on EUR/USD for today on my trade plan.

Next, looking for an entry to sell on the hourly. Price action wise, cannot break above [Ash Weekly Pivot], crossed down my 200ma, it doesn't have strength cannot go up. Next, supported by Fast [Ash C Wave] down, Slow [Ash C Wave] Kissing, MAs down. More than enough story for me.

Actually, I am applying my "Ambush" method again. Using my proprietary probability calculation to get in before market break out of my closing wedge.

My Stop Loss at 1.5640(20pips) and Target Profit at 1.5475 (145pips). Risk : Reward = 20 : 145 = 1 : 7.25.

Currently, I am around 36pips in the money. Have shifted my Stop Loss to Protective Stop at 1.5619 (1pip in the money).

Will update as this trade goes by :)

Peace and trade safely everyone...