Friday, July 29, 2005

EUR/USD 7/29/05

11:11 am- 1 trade

Hello Everyone! I kind of fibbed on my exit today. I went long at 8:40 am after the GDP report because the euro closed above the high of the EU session. My target was 2163, and it almost hit. Once I saw the hammer, I had a feeling a reversal was coming, so I closed all my lots at 2150. I really don't like to break my rules and always like to wait until my target is hit, but I'm only human :) Anyways, here are the details:

- 3 lots opened at 8:40 am at 2139; S/L= 2083; First target= 2163
- Closed all lots at 10:50 am at 2150 after hammer candle.

Result: +33 pips

7:45 am- Analysis

Good morning everyone. I am feeling a lot better today and am ready to trade! The Euro has been trading in approx. a 50 pip range, so it has made some decent movement. Normally I wouldn't expect much more movement today but the US GDP report comes out so I'm sure this will make things move. Remember to be patient and wait for a good breakout candle to close outside either the high or low of the EU session. I'll keep posting throughout the day. Happy trading everyone!

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