My EUR/USD Trade (12-09-2007)

*Click on the chart for the enlarge version.

Hi guys. Market has been a total jerk nowadays after the run from last week's USD Non-Farm Payroll.

Nonetheless, so far, I have only have made short trades this week. Didn't dare to keep a long one. Today, one of my short trades on the EUR/USD. Initiated the trade at 1:00pm (Singapore Time). What I saw was at 12:00pm (Singapore Time) candle formed into a mini bullish engulfing and plus sentiments that I saw from the last two days is that the EUR is execptionally strong against the USD, just refusing to go down and climbing up slowly.

I went in for a long position at the opening of the 1pm (Singapore Time) candle at the price line of 1.3846. My target profit was at 1.3870 and stop loss at 1.3836. My target profit was hit at 1:22pm (Singapore Time) with a profit of 24pips. That is US$240 based on 10 mini lots.