Friday, January 16, 2009

Good trade

I'm satisfied. I found nice little trade that played out perfectly. In a days when I can't find good scalps, because of crazy volatility and no follow through, this is as good as it gets. Positions in eur/usd and eur/jpy were 1/4 of full size each. I just took the scalp profit when I had it. I didn't even want to think what will happen next. Also those were reversal trades against main trend, so no place to fool around.
Reason for the trade is on third chart. Eur/jpy just had a run of 150 pips breaking on the way resistance level of this week and morning high. Now it was hitting into heavy supply zone from Monday. That is good enough place for some kind of a reaction.
+10 full size pips



3 comments:

ORION MACHINE said...

Great Job my friend, and excellent reasoning behind your actions! It made perfect sense to me!

StockHunter said...

Nice!

FX said...

Thanks