Monday 28 February 2011

"Before and After" 15min AUD/USD trade


Today i had the brilliant idea of taking a screen shot of the before and after. 

Below is the 15min AUD/USD chart this morning.


My reasoning behind this trade was purely based on the entry rules of the strategy.
1º) Purple (20) ema above the Red (80) ema
2º) Succession of higher highs and higher lows, which characterise an up trend
3º) CCI below -100 but moving back towards the positive side. 
      Stoch below 20 but moving back towards the positive side.


Entry: 1.01557
SL: 1.0115 (below previous low)
TP: 1.0192 at M-R1 (monthly pivot first resistance) 

This is the "after" chart with TP reached. 







I didn't close the trade at TP. I closed half stake, brought SL to BE+ 5pips and decided to let the trade run.



UPDATE

As i said before, i didn't close the trade at TP but decided to let it run a bit longer. I'm glad to say that i woke up today to a nice profit.


You can see two dashed lines. The top one shows my new TP and the bottom one shows the original TP.

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