The Trade:
- Pair: USD/CAD Long
- Date: April 080 2008, 4:30pm
- Entry: 1.01519
- Lots: 10
- Stop Loss: 1.01019
- Target: 1.02020
- Reason/System: This trade was signaled by various setups on different time frames. The main reason to enter this trade was the signal from the OzFX daily setup. As seen from the chart, both the AC and AO indicators were showing green, and the stoch was moving up. The price is also above the 200 SMA. On the A-MACD system, both the AO and MACD were crossing above 0. The 5 SMA had crossed over 20 SMA and the CCI was just crossing 0, all indicating a buy. And finally on the Elite setup on 4 hour chart, the 3 EMA had crossed over the 34 SMA, and I entered the trade at the very next candle.
Result:
- Date: April 09 2008, 5:40am
- Total Pips: +500
- Profit/Loss: $491.08
- Trade executed to plan? Yes
- Rating: 5
- Outcome: Whenever you have a trade signaled simultaneously by different setups on different time frames, its one of those rare opportunities. My entry and exit were perfectly executed. Looking back, the only thing I could have improved was maybe increase my lot size. But then again, it might be taking on greater risk.
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