Currently I'm continuing my journal at www.forexfornoobs.com

Currently I'm continuing my journal at www.forexfornoobs.com

This is subject to change in far future. Until then, I'll keep it there.

Sunday, December 2, 2007

EURUSD
time frame ----- 4h
account after -- 1476,74
entry ---------- 1.4625
SL ------------- 1.4603
TP ------------- 1.4650 & 1.4680
profit --------- +20,8
date ----------- 6. Dec
risk level ----- 1,89%
risk to reward - 1,14

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Reason for:
entry - Breaking of a resistance at 1.4615
stop loss - 1.4604 was the lowest point 5 candles back
trade profit - just below a pivot point that was at 1.4652
trade profit 2 - previous movement had great momentum and I expected that price could move more

This trade went as planned. The profit target was hit with the first part and price started to fall back just after hitting 1.4652. After taking the profit from the first part, I changed the SL level on the second part to 1 pip profit, which eventually got stopped out.




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Elton
Hi, my name is Elton. Please check my other blogs as well. I'm also a Forex trader (not full time yet). You can see my story at www.eltonforex.blogspot.com
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