Tuesday, 13 March 2012

EUR/USD Trade review

EUR/USD Hourly

1st trade,
There's a divergence then an engulfing candlestick pattern, don't have to remember the name, by looking at the candle we can see there's a buying pressure.. Enter buy at 1.3106 for a 30 pips stop loss. My profit target is just around 38.2 fibonacci retracement at 1.3151 for 45 pips profit

2nd trade,
Price stall at 50 percent fibonacci retracement, then i zoom out to 15 min chart

EUR/USD 15 min

Enter sell when it retrace at 1.3173, stop loss 20 pips just above last swing high.. Closed my position at 1.3183 for 42 pips profit.. Then it continue goin down T_T.. My original plan is to close at around 1.3080 (previous daily low) but my psychology get the best of me..

oh well until next opportunity...

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