Update 03-20-08 7am:
So this trade is so far my biggest loss for the month. The charts were perfectly okay, but overall weakness of the Euro did us in. In the charts, before the Euro nosedived, the AO turned red. Kind of like an early warning indicator where I could have cut my losses short, but I didn't.
Total Pips: -300
Total Profit: $594.06
This also means I should trade fewer lots of this pair as each pip is worth almost $2.
The Trade:
Long on the EUR/GBP pair.
System:
Based on the HAS system on the 4 hour chart.
Reason:
Price moving up. We just have the 2nd confirmation blue candle confirming our trend across multiple time frames.
Rating:
I would rate this trade 4.5 star. All indicators are aligned properly and showing the trend, from M5 all the way to MN. Only concern is the small upward consolidation in M5 time frame.
Entry & Exit:
Lots: 3
Entry (Long): 0.7893
Stop Loss: 0.7793
TP1: 0.7943
TP2: 0.7993
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