Tuesday, May 23, 2006

Todays Forex Trades on the GBPUSD and EURUSD

Today has been a good day! Decided to use a combination of pivots and candlesticks just before the open of the Asian session.

In Diagram 1 You can see how the Blue Pivot for the day was tested several times. The emergence of bearish candlesticks prompted me to enter a trade at 1.2853
........our trade drops to 1.2828 where we see the arrival of a bullish candlestick which arrives right on the main pivot (diag 2)– we are out, for a profit of $1320 in less than an hour NICE!

As the GBPUSD chart is looking very similar we try the same on this pair. Again our trade is giving us some nice pips – I go to make a cuppa, putting in my stop loss and, as the trade is 15 pips in profit, a TSL for good measure.
Coming back from the kitchen I see we have been bounced out of the trade.....
............but the TSL has saved the day and I still bank $400 - nice hours work.

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