Saturday 26 February 2011

Weekly Trading Review (week 4)

EUR/USD Hourly

Five magic bullet on EUR/USD, Price is in the target zone, between 61.8 and 100 fib expansion, a couple of squat bar, triple divergence between AO, RSI and Price and changing in momentum, the ao turns red. I entered this using 15 minutes chart, I'd say it's an aggressive entry, but i was thinking, it's near the 100 fib expansion and I'm quite comfortable with my risk (stop loss) so i took it. Let's look at the 15 min chart.

EUR/USD 15 min


I entered sell based on fractal 1 breakout, a saddle point but a short consolidation, like i said before it's an aggressive entry, normally I'd wait for fractal 2 breakout but i'm comfortable with the risk, near 100 fib expansion so i took it anyway. Enter sell at 1.3815, haven't closed it yet, 65 pips of floating profit. My exit will based on the hourly chart, we'll see wat happen on Monday...

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