Friday, September 23, 2005

EUR/USD 9.23.05

1 Trade Won

It was a fairly easy trading day today. There was a clear breakout of the EU session low at 8:40 am. I entered short 3 lots at 2095 with a s/l at 2115 and a first target of 2083. My first target was hit at 9:00 and I closed 2 lots and moved my last lots stop to the high of that candle at 2086. I continued to move my stop to the high of every candle that made a new low and eventually got stopped out at 2072.

Result: +24 +33 -9(spread)= +48 pips

8:00 am- Analysis

Good morning everyone! So far it's been a good week even though I've only had 2 days worth of trades. As of now, I am up 100+ pips so I'm feeling pretty good. With that said, I'm going to be very cautious today as I trade because I don't want to lose my profits for the week. However, if I see a good signal and/or breakout, I will take a trade. Just remember to be patient, especially if you're up for the week. No sense in trying to force a trade if you're already positive. There are no major news reports coming out so who knows if the market will even move. I'll post throughout the day if I see anything. Happy trading everyone!

Key Levels:
EU Session high: 2167
EU Session low: 2107
Calculated target 1: 2152
Calculated target 2: 2062

No comments:

Subscribe to this blog