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Friday, March 28, 2008
My EUR/USD Trade (27-03-2008) --- Update (Final)
*Attached chart (After). Click on it for the enlarged version.
Hello everyone,
An update from my previous trade > Click Here!
My Protective Stop was hit at 8:31pm (Singapore Time) | 12:31am (GMT).
1pip profit for this trade :)
Peace and trade safely everyone...
Thursday, March 27, 2008
My EUR/USD Trade (27-03-2008)
*Attached chart (Before). Click on it for the enlarged version.
Hello everyone,
Today I initiate a long position on the EUR/USD at the price line 1.5770 at 5:47pm (Singapore Time) | 9:47pm (GMT).
I saw price action movements and candlestick pattern. Saw a "Hammer" nicely at 23.6% (Fibo) followed by an up close candle as confirmation. Supported by Slow [Ash C Wave] still up, [Ash Cross Over] crossed up.
My Stop Loss at 1.5740(30pips) and Target Profit at 1.5850(80pips). Risk : Reward = 30 : 80 = 1 : 2.6
Currently, I am about 30pips in the money. Have already shifted my Stop Loss to Protective Stop at the price line of 1.5771 (1pip in the money).
Will update as this trade goes by :)
Peace and trade safely everyone...
Wednesday, March 26, 2008
My GBP/USD Trade (26-03-2008) --- Update (Final)
*Attached chart (After). Click on it for the enlarged version.
Hello everyone,
An update from my previous trade > Click Here!
My Protective Stop was hit at 9:45pm (Singapore Time) | 1:45pm (GMT).
1pip profit for this trade =^_^=
Peace and trade safely everyone...
My GBP/USD Trade (26-03-2008)
*Attach chart (Before). Click on it for the enlarged version.
Hello everyone,
Today I opened a short position on the GBP/USD at the price line of 1.9970 at 6:57pm (Singapore Time) | 10:57 (GMT).
Price action movement supported by Fast [Ash C Wave] already down, MAs crossing down, [Ash Cross Over] crossed down and [Ash Down Up] Thick Red Bar.
My Stop Loss at 2.0010 (40pips) above my 200ma and Target Profit 1.9865 (105pips) just above yesterday's low. Risk : Reward = 40 : 105 = 1 : 2.6
I have already shifted my Stop Loss to Protective Stop at 1.9969 (1pip in the money)
Will update as this trade goes by :)
Peace and trade safely everyone...
My EUR/USD Trade (25-03-2008) --- Update (Final)
*Attached chart (After). Click on it for the enlarged version.
Hi everyone,
An update from my previous trade > Click Here!
My Target Profit has been triggered at (26-03-2008), 4:39am (Singapore Time) | 8:39pm (GMT).
90pips profit for this trade :)
Peace and trade safely everyone...
Tuesday, March 25, 2008
My EUR/USD Trade (25-03-2008)
*Attached chart (Before). Click on it for the enlarged version.
Hello everyone,
I opened a long position on the EUR/USD at the price line of 1.5550 at 6:01pm (Singapore Time) | 10:01am (GMT).
Price action movements which I called my "Ambush" method in my dictionary of analysis plus supported by market refusing to go below the [Ash Weekly Pivot Point], Fast and Slow [Ash C Wave] still up, MAs up and [Ash Cross Over] kissing.
Stop loss at 1.5519 (31pips) and Target Profit at 1.5640 (90pips). Risk : Reward = 31 : 90 = 1 : 2.9
I have shifted my stop loss to protective stop at 1.5551 (1pip in the money).
Will update as trade goes by :)
Peace and trade safely everyone...
What happened during Asian Session?
Source: Forex.com
USD sellers returned full force in today's Asia session in the first real test of the USD bulls in a week. EUR/USD broke through 1.5450, running all the way through 1.5550. USD/JPY was also weak slicing through 100.50 but holding above 100.00. There wasn't any confirmed news regarding the sharp sell off but we heard rumors of non-official sellers of the USD (also known as sovereign wealth funds). JPY crosses were mostly higher as equity markets continue to trade higher.
Looking forward, London is back from vacation and we should expect to see more depth to the market. It will be interesting to see if the recent USD rally was a correction in a longer term trend lower in the USD or the beginning of a bottom in the USD. Expect commodities to trade in a negative correlation to the USD so if we see gold get back over $1,000 we could renewed interest to sell the USD. On the economic front, tomorrow morning is US consumer confidence which is expected to weaken further to 73.5.
USD sellers returned full force in today's Asia session in the first real test of the USD bulls in a week. EUR/USD broke through 1.5450, running all the way through 1.5550. USD/JPY was also weak slicing through 100.50 but holding above 100.00. There wasn't any confirmed news regarding the sharp sell off but we heard rumors of non-official sellers of the USD (also known as sovereign wealth funds). JPY crosses were mostly higher as equity markets continue to trade higher.
Looking forward, London is back from vacation and we should expect to see more depth to the market. It will be interesting to see if the recent USD rally was a correction in a longer term trend lower in the USD or the beginning of a bottom in the USD. Expect commodities to trade in a negative correlation to the USD so if we see gold get back over $1,000 we could renewed interest to sell the USD. On the economic front, tomorrow morning is US consumer confidence which is expected to weaken further to 73.5.
Monday, March 24, 2008
Holiday is not holding FX back.
Source: Forex.com
It was a holiday in some parts of the world, but in currencies it was business as usual. Last week's USD rally continued as EUR/USD broke through 1.5400 and USD/JPY traded towards 100.00. Lower commodities like oil and gold have been contributing to the USD bid tone as well as well as signs that the credit conditions in the US are spreading to other parts of the world. JPY crosses were choppy despite S&P futures pointing to higher equity markets. In the past the two have been highly correlated but that relationship has diminished recently.
Looking forward, it should be another interesting week after the historical events of last week. We have a slew of economic data including US new and existing home sales as well as consumer confidence. While equity markets are trading off their lows, we could continue to see slowing economic data pointing to a recession. However, this is not necessarily negative for the USD if the slow down is global. Given the multi-year move lower in the USD, another week of USD strength isn't out of the question.
It was a holiday in some parts of the world, but in currencies it was business as usual. Last week's USD rally continued as EUR/USD broke through 1.5400 and USD/JPY traded towards 100.00. Lower commodities like oil and gold have been contributing to the USD bid tone as well as well as signs that the credit conditions in the US are spreading to other parts of the world. JPY crosses were choppy despite S&P futures pointing to higher equity markets. In the past the two have been highly correlated but that relationship has diminished recently.
Looking forward, it should be another interesting week after the historical events of last week. We have a slew of economic data including US new and existing home sales as well as consumer confidence. While equity markets are trading off their lows, we could continue to see slowing economic data pointing to a recession. However, this is not necessarily negative for the USD if the slow down is global. Given the multi-year move lower in the USD, another week of USD strength isn't out of the question.
Quick look on the market (24-03-2008)...
Hello everyone,
Osamex has been really busy and tired. Instead of doing his video hosting market review for us, he has gladly volunteered to give text review :) Thank you Osamex.
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*Disclaimer. This is not a trade recommendation, just for educational purposes. There is significant risk in Forex Trading.
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EUR/USD
Under Weekly Quick Look. It look as if the bull is a little tired. A possible retracement? Immediate support is currently at previous previous week's low at about the price line of 1.5280. Last week's candle is unable to break previous previous week's open and low despite a top rejection after creating a new high.
Under Daily Quick Look. Same thing that I see. A breathing point that happened last week. Possible heavy profit taking or Fed's intervention? Which ever it is, we techinical traders do not bother much about it. Anyway, 1.5350 looks like a good immediate support, if it can break below this price, we are looking for selling opportunity towards the price line of 1.5080.
Under Hourly Quick Look. Hmmm, interesting. Market is going towards my target for my previous trade which I got stop out at 40pips profit. Anyway, as mentioned from the Quick Look from the Weekly and Daily, we will be looking for a selling oppotunity. Super immediate resistance for us now is at around 1.5400, followed by 1.5430 and 1.5530. On the downside, super immediate support is at around 1.5350, followed by 1.5285 and 1.5150.
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GBP/USD
Under Weekly Quick Look. Last week's movement was very predictable. From the previous previous week's movement, it was a nice perfect doji. Osamex has informed Commerciante Traders to be wary of any buying opportunities on the GBP/USD last week.
Possible "Head and Shoulders"? Immediate support level is at around the price line of 1.9350.
Under Daily Quick Look. Super Immediate support level at around the price line of 1.9730. From the previous "Double Bottom" spotted, market jumped but the strength was not there for long. Now, if market is able to break below the mentioned support level, look forward to 1.9610.
Under Hourly Quick Look. 1.9730, a good price to look at as a super immediate supprt. Topside resistance is between 1.9880 - 1.9900. Looks like there will be a follow through from last week's movements. Look more on down selling opportunity.
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USD/JPY
Under Weekly Quick Look. Previous previous week's movement broke below the mega closing wedge but last week, market had a bottom rejection and an up close candle which look like a "Hammer". Immediate resistance level at around 101.40. This week, might be some minor retracement from the straight down fall that it did.
Under Daily Quick Look. Market has already broke below Osamex's channel. Market has since made a retracement back up towards the already broken channel. Super immediate resistance will be at around 100.20 - 100.40.
Under Hourly Quick Look. Last week, from the looks of it, some major war going on between sellers and buyer and intervention from relevant authorities. Market jump, then consolidate then now into a dead trading line. 98.85 will be a good price line to look at, if it is able to break any lower, look forward for a sell down opportunity. Just a word of caution since there is a "Tug-Of-War" here, be careful of top side resistance, 100.40, followed by 101.25 and 102.53.
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USD/CHF
Under Weekly Quick Look. Looks like it is going for a major retracement. Beware of super immediate resistance level at around 1.0530. Possible retracement towards mentioned resistance level.
Under Daily Quick Look. 1.0250 is a good super immediate resistance level to look at. If can break above this level, look forward to the next one at 1.0340, followed by the one mentioned in Weekly Quick Look.
Under Hourly Quick Look. It has currently broke last week's high. Super immediate support is at 1.0150. Top side resistance level at around 1.0250, followed by 1.0310.
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Saturday, March 22, 2008
My EUR/USD Trade (20-03-2008) --- Update (Final)
*Attached chart (After). Click on it for the enlarged version.
Hello everyone,
An update from my previous trade update > Click Here!
Didn't have time to look at my charts and trading account till now.
Anyway, my protective stop has been hit at (21-03-2008), 1:27am (Singapore Time) | 5:27pm (GMT).
40pips profit for this trade.
Peace and trade safely everyone...
Friday, March 21, 2008
My EUR/USD Trade (20-03-2008) --- Update 1
Hello everyone,
An update from my previous trade > Click Here!
Currently, now at 12:32am (Singapore Time) | 4:32pm (GMT), I am like 70pips in the money now. Have shifted my Protective Stop further to 1.5460 (40pips in the money).
Will update as this trade goes by :)
Peace and trade safely everyone...
An update from my previous trade > Click Here!
Currently, now at 12:32am (Singapore Time) | 4:32pm (GMT), I am like 70pips in the money now. Have shifted my Protective Stop further to 1.5460 (40pips in the money).
Will update as this trade goes by :)
Peace and trade safely everyone...
Thursday, March 20, 2008
My EUR/USD Trade (20-03-2008)
*Attached chart (Before). Click on it for the enlarged version.
Hello everyone,
I shorted the EUR/USD at the price line of 1.5500 at 5:43pm (Singapore Time) | 9:43am (GMT).
Candle studies and price action (it broke below my channel), it is supported by Fast and Slow [Ash C Wave], MAs down, [Ash Cross Over] down and [Ash Down Up] Thick Red Bar.
My Stop Loss is at 1.5530 (30pips) and my Target Profit is at 1.5360 (140pips). Risk : Reward = 30 : 140 = 1 : 4.6
Currently, I am in 30pips in the money, have shifted my Stop Loss to Protective Stop at 1.5499 (1pip in the money).
Will update as this trade goes by :)
Peace and trade safely everyone...
My GBP/USD Trade (19-03-2008) --- Update (Final)
*Attached chart (After). Click on it for the enlarged version.
Hello everyone,
From my previous trade > Click Here!
My Protective Stop was triggered at (20-03-2008) 12:22pm (Singapore Time) | 4:22am (GMT).
30pips profit for this trade :)
Peace and trade safely everyone...
My GBP/USD Trade (19-03-2008)
*Attached chart. Click on it for the enlarged version.
Hello everyone,
Last night I shorted the GBP/USD at the price line of 1.9858 at 11:57pm (Singapore Time) | 3:57pm (GMT).
Price action follow through but I was a little too late but still can enter because it was supported by Slow and Fast [Ash C Wave] was going down, MAs down and [Ash Cross Over] already down and going down further, [Ash Down Up] thick red bar.
My Stop Loss 1.9888 (30pips) and Target Profit 1.9760 (98pips). Risk : Reward = 1 : 3.26
Today about 11:00am (Singapore Time) | 3:00am (GMT), I am like 70pips in the money. Have shifted my stop loss to protective stop at 1.9828 (30pips in the money).
Will update as this trade goes by :)
Peace and trade safe everyone....
Wednesday, March 19, 2008
My EUR/USD Trade (19-03-2008)
*Attached charts (Before) & (After). Click on it for the enlarged version.
Hello everyone,
After the USD's interest rates release, I initiated a short position on the EUR/USD at the price line of 1.5721 at 2:53am (Singapore Time) | 6:53pm (GMT).
Price action movement, took out the day's low. Supported by my secret analysis.
My stop loss at 1.5741 (20pips) and Target Profit at 1.5520 (201pips). Risk : Rewards = 20 : 201 = 1 : 10.05
This morning, was like 40pips in the money, shifted my stop loss to protective stop at 1.5701 (20pips in the money).
Protective stop got hit at 12:18pm (Singapore Time) | 4:18am (GMT).
20pips profit :)
Peace and trade safely everyone...
Monday, March 17, 2008
My 2nd USD/JPY Trade (17-03-2008) --- Update (Final)
*Attached chart. Click on it for the enlarged version.
=^_^= Hello everyone,
Update from my previous trade > Click Here!
My Stop Loss was hit at 8:03pm (Singapore Time) | 12:03pm (GMT).
25pips losses for this trade :)
Peace and trade safely everyone...
My 2nd USD/JPY Trade (17-03-2008)
*Attached chart. Click on it for the enlarged version.
Hello everybody :)
I shorted the USD/JPY again at the price line of 96.60 at 6:50pm (Singapore Time) | 10:50am (GMT).
Same thing that I saw from the previous trade > Click Here!
Stop loss at 96.85 (25pips) and Target Profit 95.80 (80pips). Risk : Reward = 25 : 80 = 1 : 3.2
Currently, I am 20pips in the money. Have not shifted my stop loss to protective stop.
Will update as this trade goes by :)
Peace and trade safely everyone...
My USD/JPY Trade (17-03-2008) --- (Update Final)
*Attached chart. Click on it for the enlarged version.
Hello everyone,
From my previous trade > Click Here!
Protective stop triggered at 5:34pm (Singapore Time) | 9:34am (GMT), 1pip profit :)
Peace and trade safely everyone...
My USD/JPY Trade (17-03-2008)
*Attached chart. Click on it for the enlarged version.
Hello everyone,
Initiated a short position on the USD/JPY at the price line of 97.12 at 4:56pm (Singapore Time) | 8:56am (GMT).
My price action analysis. To support that, my secret analysis is in my favour.
Stop loss at 97.39 (27pips) and Target Profit 95.80 (132pips). Risk : Reward = 27 : 132 = 1 : 4.8
Currently, am about 30pips in the money, have shifted my stop loss to protective stop at 97.11 (1pip in the money).
Will update as the trade goes by :)
Peace and trade safely everyone...
Thursday, March 13, 2008
EUR/USD Hit Record High As Investors Lose Confidence In Fed
SOURCE: Daily FX
The US dollar got crushed as many financial institutions questioned the Fed's success in reviving liquidity in the credit markets. The Swiss franc and the Yen picked up the most against the crumbling dollar as both currencies retraced yesterday's losses to hold near record highs as weary investors dumped their holdings of carry trades. Against the European currencies, the euro strengthened against the US dollar to touch another record high of 1.5573, with the British pound appreciating to hold above 2.02. The commodity currencies also picked up modest gains as oil prices surged to a new record high of $110.01.
Downward pressures for the US dollar billowed as market participants became skeptical of the Fed's success in easing the economic turmoil for the US, and raised speculation that the move merely mirrors the Fed's concerns for the financial markets. As a result, market participants rallied around the belief that the $200B infusion by the Fed may only help to improve liquidity in the credit markets, but will not be enough to serve as an absolute solution for the troubled economy. Fresh economic data added to the bleak outlook for the economy as the MBA Mortgage Applications index fell to minus 1.9 percent due to tightening credit conditions, with the Bloomberg Global Confidence dropping to 13.01 as Bloomberg analysts speculate that the US slowdown will hamper global economic growth. The Monthly Budget Statement also pressed on the US outlook with the deficit widened to minus 175.6B from minus 120.0B as the Bush administration increased the tax rebate for households.
Looking ahead, all economic data for the US will be released at 12:30 GMT, with all eyes focused on the Import Price Index as well as the Retail Sales figures. Following the releases, the Initial Jobless Claims and Continuing Claims release will end the eventful day, and expected downward pressures for the US dollar to persist as the data will reflect stalled growth for the economy.
The US dollar got crushed as many financial institutions questioned the Fed's success in reviving liquidity in the credit markets. The Swiss franc and the Yen picked up the most against the crumbling dollar as both currencies retraced yesterday's losses to hold near record highs as weary investors dumped their holdings of carry trades. Against the European currencies, the euro strengthened against the US dollar to touch another record high of 1.5573, with the British pound appreciating to hold above 2.02. The commodity currencies also picked up modest gains as oil prices surged to a new record high of $110.01.
Downward pressures for the US dollar billowed as market participants became skeptical of the Fed's success in easing the economic turmoil for the US, and raised speculation that the move merely mirrors the Fed's concerns for the financial markets. As a result, market participants rallied around the belief that the $200B infusion by the Fed may only help to improve liquidity in the credit markets, but will not be enough to serve as an absolute solution for the troubled economy. Fresh economic data added to the bleak outlook for the economy as the MBA Mortgage Applications index fell to minus 1.9 percent due to tightening credit conditions, with the Bloomberg Global Confidence dropping to 13.01 as Bloomberg analysts speculate that the US slowdown will hamper global economic growth. The Monthly Budget Statement also pressed on the US outlook with the deficit widened to minus 175.6B from minus 120.0B as the Bush administration increased the tax rebate for households.
Looking ahead, all economic data for the US will be released at 12:30 GMT, with all eyes focused on the Import Price Index as well as the Retail Sales figures. Following the releases, the Initial Jobless Claims and Continuing Claims release will end the eventful day, and expected downward pressures for the US dollar to persist as the data will reflect stalled growth for the economy.
My USD/JPY Trade (13-03-2008)
*Attached charts (Before) & (After). Click on it for the enlarged version.
Hello everyone,
After my previous USD/JPY that got stopped out at 1pip Protective Stop > Click Here.
In the wee hours last night, I saw a continuation. Initiated a short position at the price of 102.15 at 1:22am (Singapore Time) | 5:22pm (GMT).
What I saw, as per usual, candle stick pattern, price action, cannot break my 200ma and cannot break above the weekly pivot. Supported my secret analysis.
My Stop Loss was at 102.40 (25pips) and Target Profit 101.40 (75pips). Risk : Reward = 25 : 75 = 1 : 3
Then I went to sleep :P
Woke up today at 10:00am (Singapore Time) | 2:00am (GMT). Saw that my Target Profit was hit at 5:41am (Singapore Time) | 9:41am (GMT).
75pips profit for this trade :)
I have mentioned from my previous post > Click Here. From what I can see now, the pair has broken down, out of the monthly wedge, it is possible that JPY is strengthening. I'm looking forward for downward oppotunity.
Peace and trade safely everyone...
My USD/JPY Trade (12-03-2008) --- Update (Final)
*Attached chart. Click on it for the enlarged version.
Hello everyone :)
Update from my previous trade > Click here!
Protective Stop got hit at 11:16pm (Singapore Time) | 3:16pm (GMT).
1pip profit...
Peace and trade safely everyone :)
Wednesday, March 12, 2008
My USD/JPY Trade (12-03-2008)
*Attached chart. Click on it for the enlarged version.
Hello everyone,
I shorted the USD/JPY today at the price line of 102.80 at 6:43pm (Singapore Time) | 10:43am (GMT).
Based on price action analysis and candle pattern. Supported by my secret analysis and 200ma is a strong resistance level.
Was waiting for price to cross below 102.80. When it did, I placed an order to sell at 102.80. It was filled at the mentioned time above.
Stop loss at 103.03 (23pips) and Target profit 101.90 (90pips). Risk : Reward = 23 : 90 = 1 : 3.9
Currently, I'm in 40pips in the money. I have already shifted my Stop Loss to protective stop at 102.79 (1pip in the money).
Will update as this trade goes by :)
Peace and trade safely everyone...
USD/JPY Quick Look (12-03-2008)
*Attached chart. Click on it for the enlarged version.
Hi everyone,
A quick look on the USD/JPY. Attached chart is the monthly chart which I can see that it is in a very big closing wedge. Market is having a huge squeeze in.
Currently, market has so far reached the bottom wedge support again which is roughly around 101.70 and bounce. Now it is around 103.00. If market is strong enough to break the bottom support and looking forward to go down, this is will be an oppotunity to see history repeating itself and JPY shall strengthen again. In trading, anything can happen.
Otherwise, market will just be bouncing up to continue its is mega congestion in the closing wedge. Let's see how it goes, since I am doing a quick look based on monthly chart, it will definitely take quite sometime to materialised :P In between for trading sense, we can definitely see some trend movements from weekly down to daily and hourly charts.
Peace and trade safely everyone...
My USD/JPY Trade (11-03-2008)
*Attached charts (Before) & (After). Click on it for the enlarged version.
Hello everyone,
It is based on candle studies and price action movements. Plus co-relation on the EUR/JPY that I saw but won't go in depth on this part.
The candle formation that made me decide to long USD/JPY is a pattern that is similar to three line strike. Using modified version of my secret analysis which is in my favour.
Went long at 5:02pm (Singapore Time) | 9:02am (GMT) at the price line of 101.98.
Stop loss was at 101.75 (23pips) below 23ma and Target Profit 103.30 (132pips) below 200ma. Risk : Reward = 23 : 132 = 1 : 5.73
Have to attend to other commitments and I reached home at 12:10am (Singapore Time) | 4:10am (GMT) to know that my target profit has been triggered at 10:26pm (Singapore Time) | 2:26pm (GMT).
132pips profit for this trade...
Peace and trade safely everyone...
Sunday, March 09, 2008
My USD/JPY Trade (06-03-2008)
*Attached charts (Before) & (After). Click on it for the enlarged version.
Hi everyone,
I shorted the USD/JPY (06-03-2008) at the price line of 103.40 at 4:44pm (Singapore Time) | 8:44am (GMT).
Price action movements and cannot break above the weekly pivots plus my secret analysis.
Stop loss at 103.65 (25pips) and Target Profit at 102.50 (90pips). Risk : Reward = 25 : 90 = 1 : 3.6
When I was around 30pips in the money, shifted my stop loss to protective stop at 103.39 (1pip in the money)
Next day (07/03/2008), I woke up at unbelieveable 6:00am (Singapore Time) | 10:00pm (GMT) in the morning because I have my HDB appointment at 8:15am (Singapore Time) | 12:15am (GMT) and I want to beat the PIE traffic.
Anyway, 6:14am (Singapore Time) | 10:14pm (GMT), the market was like 7pips away from my target price so I shifted my protective stop at 103.39 (1pip in the money) further to 103.10 (30pips in the money). Left the house at 6:40am (Singapore Time) | 10:40am (GMT).
My HDB appointment went well. When I was sitting in front of my laptop, found out that my target has already been triggered at 6:49am (Singapore Time) | 10:49pm (GMT), just after I left the house :P Hehehe.
90pips profit for this trade :)
Peace and trade safely everyone...
My GBP/USD Trade (05-03-2008)
*Attached chart. Click on it for the enlarged version.
Hello everyone,
I did a short on the GBP/USD (05-03-2008) at the price line of 1.9810 at 3:22pm (Singapore Time) | 6:22am (GMT).
I saw that, my chart pattern, broke out of my wedge and broke the weekly pivot. Plus my secret analysis.
My stop loss is at 1.9844 (34pips) and target profit 1.9710 (100pips). Risk : Reward = 34 : 100 = 1 : 2.94
When I was in around 53pips in the money, shifted my stop loss to protective stop at 1.9809 (1pip in the money)
Got stop out at 1pip profit at (05-03-2008) 6:51pm (Singapore Time) | 10:51am (GMT).
Peace and trade safely everyone...
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