OK, so by now you've figured out I had a positive day. Well it was about time! Anyway we had one crossover and it took a 2 hrs and 15 min to get out of the trade but...it was worth it.
Today's Trades:
11:15am EST- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD went from negative to positive. This was a valid entry. The entry was at the close of the candle at 1.9657 with a stop at the most recent swing low at 1.9610. The next 00 level was 43 pips away. This put my target at 1.9700.
Entry: Long at 1.9657
Stop: 1.9610
Initial Target: 1.9700
1:45pm EST- My target is hit. Fortunately because news was coming out at 2 pm and I would have to get out anyways.
Result: 1 trade...+43 pips......3 lots.....+129 pips.
Again I differed from pipsurfer in that I got in one bar later. This made a difference because the price he got filled at was 1.9646 which was 4 pips below the 50 level. So he put his target at the amount he was risking. And therefore got out at 1.9682. He made a 37 pips profit as opposed to my 43 even though he got in 11 pips below me. Strange...but true.
I can't stress enough that no two traders will ever have the same results even if they trade exactly under the same rules. Interpretation is a difference that lies in the eye of the trader.
So here are the charts for today.
Talk to you soon.
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