Thursday, June 5, 2008

Thursday 6/5/08 Update

It keeps going and going.


Another positive day. for net 102 pips. Looking good.


Today's trades:


2:00am EST- There was a moving average crossover for a short trade. However, stochastics were still trending up which cancelled out the signal. I did not enter on this one.

3:45am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD was positive and losing value. This was a valid entry. The entry was at the close of the candle at 1.9501 with a stop at the most recent swing high at 1.9535. Since I was only 1 pip away from the nearest 50 or 00 level, I decided to go for the same amount of pips I was risking on the trade, which in this case was 34. This put my initial target at 1.9467.

Entry: Short at 1.9501

Stop: 1.9535

Initial Target: 1.9467

5:45am EST- My target was hit. I had a limit order in place and it got filled at 1.9467


Results: 1 trade...+34 pips....3 lots....102 pips.


Here are the charts.


Talk to you soon.


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