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“Closed Eur and GBP for 137 pips combined. That makes
it 279 pips since yesterday’s live session, and 413 for the
month for me. Needless to say – I’m finished for May 
See you live tomorrow.”
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These alerts were also sent out to members in a simple format with attachments of chart set ups…
“Trying small LONG Euro, at 2184, stop under the lows.
Target roughly 100 pips or the “black line” if it goes
mad.”
Thought I’d do something a bit different from my usual retrospective trading reports. Just took a trade (well, entered it a couple hours ago) and thought I’d post my reasons for getting into it and what I hope to get out of it, then once its finished go back and review it. This trade is a bit of a continuation of a trade I took yesterday, and I’m hoping to get a similar reward to the price movement that happened in that trade.
Yesterday I entered a long position on the GBPUSD after getting a trading entry signal of the bullish engulfing candle coinciding with the other G7 indicators. I set my stop loss to 10 pips below the opening price of the bullish engulfing candle. As I was going to be at my desk, I let the trade run rather than set an automatic take profit. As the trade got up to the 38.2% Fibonacci level I started to meet some resistance and after a couple hours it hadn’t managed to break through that resistance level so I took my profit (just over 130 pips). A few hours later, the price retraced quite a bit.
A couple of hours ago today, there was another candlestick pattern that I thought would be useful to trade off. This is the trade I am currently in. The trade has been running for two hours now and I’m up about 40 pips. I’ve set a take profit level on the 38.2% fibonacci level, and that’s about 70 pips away from my current position. So far things are looking good; I’ll post again tomorrow to let you know how it worked out!
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