+19-12-2007+(before).jpg)
+19-12-2007+(after).jpg)
*Attached charts to this post (Before & After), click on it for the enlarged version.
Hello everyone,
My trade today (19-12-2007) with the GBP/USD.
Basically, I was looking at the EUR/USD but something pulled me over to see GBP/USD instead. Just happen when I was looking at it, candle pattern was happening right in front of me, very nice and sexy, I shorted GBP/USD at the price line of 2.0079 at 5:46pm (Singapore Time). My Stop Loss was at 2.0115(36pips) and Target Profit at 1.9975(104pips).
I did my stuff for Hari Raya Haji tomorrow, just happened to check my laptop now at around 1:00am (Singapore Time), my Target Ptofit has been hit at 12:32am (Singapore Time). 104pips profit for this trade :)
Peace, trade and close books safely everyone...
2 comments:
Hi..ash..great trade...did u see use the 3 line recovery method for this particular trade? How did u deduce that target profit is more than 100 pips? How did u based that on?
Hello Mr and Mrs Chan. Anyway, how did you come across my blog? Are you one of Momentum's students?
Anyway, What I saw wasn't a "3 line recovery". It is just a huge and powerful engulfing which not engulf the previous up close candle but technically, the entire day's morning and afternoon's movement.
That alone is a very power confirmation for me to short the GBP/USD on that particular day.
How did I deduce that profit target? I am sensitive with support and resistance. I had a support in the Daily charts and my target profit is based on my support with of course, +-10pips.
The ability to see available room for market to run, will come as you practise more in trading :)
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