Update 03-28-08 7am:
The third lot hit the stop loss and closed for no gain.
Lot 1: +100 pips
Lot 2: +100 pips
Lot 3: 0 pip
Total Pips: +200
Total Profit: +200
Update 03-27-08 7am:
The 2nd lot also closed for a +100 pip profit. Its been a real struggle with this pair. Hitting TP1, then reversing and almost hitting the SL before reversing once again and hitting TP2. The last lot is currently trading at +135 pips. SL has been moved to BE.
Update 03-26-08 12 noon:
Lot 1 closed for a profit of +100 pips. The pair then traded below my entry and has now moved back to +40 pip range. I have set the TP for 2nd lot to +100 pips.
The Trade:
Similar to my previous trade. The Dollar is weakening against the majors, and we are going long this pair.
System:
This is based on the A-MACD system on the 4 hour charts.
Reason:
We just got the signal for this trade. The moving averages have crossed over, and so has the MACD and AO. We also have 2 green bars in the AO above 0 which confirms the trend.
Rating:
I would rate this trade a 5 star. Its got all the indicators correct. Price is also above the 200 SMA which is in line with the long term trend.
Entry & Exit:
Lots: 3
Entry (Long): 2.0006
Stop Loss: 1.9906
TP1: 2.0106
TP2: 2.0156
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