Wednesday, April 29, 2009

Trade Result - EUR/USD +198

For the original trade idea, click here. This trade went pretty much as planned (for which we are grateful). I gave the particulars of the trade in my update last night so I won't go into that again. I will say that the importance of waiting for the close of a bar before entering a trade was reinforced on this trade. You'll note that two bars prior to our entry bar the pair looked like it was going to break downward (the 0700 EDT bar on Tuesday). I was watching this bar develop and almost jumped the gun and took the trade early (proving that I am capable of breaking my own rules - naughty me). I'm glad I didn't, and the trade worked out very well. The particulars for this trade were as follows:

Enter Long at 1.3050
Exit Position at 1.3248
Profit = +198 pips

Happy Trading!