The Trade: GBP/AUD Short
Reason/Setup:
Entered this trade based on Elite setup on 1 hour chart. I was a bit late with the entry, but the price action was ideal. I had multiple candles which had closed lower consecutively. And when the CCI crossed below 0, it was at a nice angle suggesting a healthy trend.
The green highlight in the chart indicated where I entered the trade. I also closed the trade in the same bar when it hit my target point.
Trade Details:
- Date Entered: April 22 2008, 7:20 pm
- Entry: 2.1030
- Lots: 10
- Stop Loss: no stop loss set.
- Target: 2.1000
- Date Closed: April 23 2008, 7:35 am
- Result: Pair hit target.
- Total Pips: +300
- Profit/Loss: $285.24
- Rating: 4
Another near perfect trade. Made money as soon as I entered it. I was in this trade just about 15 minutes. I wish all trades would be this easy. Patience really pays well. Maybe next time I can place bigger targets (50 pips) as the pair continues to move lower.
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