Update 05-07-08 7:00 am:
The initial target for this trade was 30 pips. But when I saw the strength of the move, I moved the target bit further. But it turns out that I did exit this trade very early and missed out on a at least another 100 pips.
Trade Result:
Date: 05-07-08 3:00 am
Result: Pair hit target
Total Pips: +500
Profit/Loss: $500
Rating: 5
Reason/Setup:
I entered this trade based on the Elite setup on 1 hour chart. I am late with the entry and have missed a 10-15 pip move. But that confirms the trend down is valid. We might also have a valid signal in the H4 time frame. As of now, I have a 30 pip stop and target.
Trade Details:
Date: May 06 2008, 7:15 pm
Entry: 1.5491
Lots: 10
Stop Loss: 1.5521
Target: 1.5461
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