Thursday, August 18, 2005

EUR/USD 8/18/05

6:30 pm- 1 Trade won

Finally we have a trade! Once the Euro broke the low of the EU session, I had a good feeling we would see a down trend for the US session. I played it conservative and waited for a break below 2200. I entered short on 3 lots at 2199. My first target was S1 (see chart from this morning). I closed 2 lots at 2190, and moved my last lot's stop to 2200. My next target was my calculated target from this morning which was at 2172. Once it broke it, I moved my stop to 2172 and that's where I got stopped out.

Results: +18 +27 -9(spread)= +36 pips












8:00 am- Analysis


Good morning everyone! HOPEFULLY, we can find a trade today. I wish I could've gotten some of the move earlier. The Euro CPI report pushed the price down to almost 2200. It probably moved now because it was confirmation from the US CPI report. Thats just my guess as to why it didn't move like this when the US CPI came out.

Anyways, here is today's chart. Euro made about a 75 pip range during its session so I wouldn't expect too much movement. However, with this much range, I'm more prone to trade a bounce if it happens. I usually only like trading breaks of the hi/lo of the EU session, but with bigger moves, sometimes a bounce can be just as effective. I've outlined areas that I might possible enter if the price moves in those directions. I'll try to keep posting on the message board throughout the day. Happy trading everyone!

5 comments:

Celebrimbor said...

Hi pippin...

Its about how to calculate the targets...

when you said "high of the candle 8wma", what candle is? And which is the wma color line, blue or red?

Tanx

RAFA

illninho said...

dont need your money anymore! but thanks for interest anyway.
illninho.blogspot.com

Big Pippin said...

celebrimbor- The high of the candle that touched the 8wma. I'm referring to the most recent candle that has touched the 8wma. The 8wma in my chart is the blue line. I hope that helps.

Big Pippin said...
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