My EUR/USD Trade (19-09-2007)

*Attached chart, click on it for the enlarge version.

Hello people. My biggest trade today. You may call it a crazy trade as well. I was planning not to initiate any trade before the Fed's announcement on USD's Interest Rate Statement at 2:15am (Singapore Time).

But let me tell you the story, I can't sleep due to my stupid flu and my blocked nose. Irritating the crap out of me. So I was looking at the charts and I saw something really beautiful and I just can't help it.

EUR is definately having some strength against the USD and at the end of 11:00pm (Singapore Time), it formed into a doji. Taking into consideration that at 8:00pm (Singapore Time), it jumped a little followed by tiny down close at 9:00pm (Singapore Time) and 10:00pm (Singapore Time).

I just couldn't help it but initiate a long position at the price line of 1.3870 at the beginning of the 12:00am (Singapore Time) candle. I am not trading the news but the signal was just so beautiful and from 12:00am (Singapore Time), I was looking at the charts like a hawk till my nose became unblocked due to my heart rate pumping so fast :P Hahahaha!!!

Since the first immediate resistance level is at 1.3920, I put my target profit at 1.3970 (It is my next immediate resistance level based on my own analysis) and stop loss at 1.3855. I was looking at it very closely and here comes 2:15am (Singapore Time). I tell you, watching the market move was like looking at fireworks. I was so excited that I almost forgot that I had an open position. My apologies to those trader friends that I was continuosly message and bugging them while the market moved :P Hahaha!!!

Anyway, to cut my long story short, my target profit was triggered with 100pips profit and that is US$1000 based on 10mini lots. Just a word of caution, this kind of trade is not good for the faint hearted :P Before I end, the FED's actually took a rate cut till 4.75% from their previous interest rate of 5.25%. Thank you market for showing me an early signal to enter :P Hahaha! Wooohoooo!!!

Peace and trade safely everyone...