Tuesday, September 06, 2005

EUR/USD 9.06.05

5:40 pm- 1 trade won

Hello everyone. Just a small gain but still a winner. The signal came early today at 8:20am. I went long 3 lots at 2494 with a s/l at 2479 and my first target as 2503. My first target was hit, and I closed 2 lots and trailed my last stop by moving it to the low of every candle that made a new high. You can see that at about 8:50, the candle tested the EU session high but could not close above it. I held my position until the next candle which ended up being red (hinting that it was probably a sign of a bounce). I closed my last lot at 2501.

Results: +18 +7 -9(spread)= +16 pips

8:00 am- Analysis

Good morning everyone! Hope you all had a great weekend, and if you live in the US, hope you had a great Labor day. Thank you for all your support on Babypips. It shouldn't be too much longer before it is up. For those of you who are interested in the PDF, I have recorded your email addresses and will distribute it when the site is out.

Now for some trading! The Euro made about a 72 pip range during it's session. We're definitely starting to see more movement as we are moving out of this vacation season. Currently, the price is right in the middle of the hi/lo of the EU session so I'm pretty confident that it will eventually head back to either the high or the low. Just be sure to wait for a good signal. I'll try to post throughout the day. Happy trading everyone!

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