My EUR/USD Trade (23-04-2008)

*Attached charts (Before) & (After). Click on it for the enlarged version.

Hello everyone,

Today [23-04-2008], I was looking forward to short the EUR/USD.

At 6:31pm (Singapore Time) | 10:31am (GMT), I shorted EUR/USD at the price line of 1.5965.

It was my price action, no candle stick criteria. Supported by 4hourly chart [Ash Cross Over] was down. 1hour chart was a little contradicting, [Ash Cross Over] was not pointing down, but the Fast [Ash C Wave] was down and Slow [Ash C Wave] was kissing and [Ash Down Up] was picking up momentum on the down side.

My Stop Loss was at 1.5987 (22pips) and Target Profit at 1.5880 (85pips). Risk : Reward = 22 : 85 = 1 : 3.8

After I opened my position and placed my Stop Loss and Target Profit. I basically didn't have time to look at it. Had something to do and then after, meeting my potential partners on a business we are setting up. Car polishing centre :P So, when it is up and running, maybe we can set something up like a special membership for drivers that are loyal readers of Forexnewspaper.blogspot.com :P Hahaha!!! With approval from my partners of course!

Anyway, I just got home. It is now like 1:27am (Singapore Time) | 5:27pm (GMT). My Target Profit was hit at 9:32pm (Singapore Time) | 1:32pm (GMT).

85pips profit for this trade :)

Peace and trade safely everyone...