My EUR/USD Trade (14-12-2007)

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

Harlow everyone. My trade today on the EUR/USD.

Today, I saw a bear flag in the EUR/USD. When it broke below the morning's low and the bear flag, I initiated a short position at the price line of 1.4604 at 4:48pm (Singapore Time). My stop loss was at 1.4625(21pips) and my target profit was at 1.4535(69pips). My target profit at 1.4535 is because of that it is 1995's high and it might be a good support. Risk:Reward ratio = 21:69, roughly 1:3.

Although under 4hrs chart, it show that there will be room for more profit but I am not taking any chances due to the fact that it is already mid-December and institutions and professional traders are preparing to close their books.

Anyway, I went out, Came back home at 11:00pm (Singapore Time), my profit target has been triggered at 7:16pm (Singapore Time). 69pips profit for today, just nice to close my books for the year :)

Peace and trade safely everyone...