+11 pips, 0.9R, 0.75%
Wednesday, September 9, 2009
Small trade in gbp/usd pair
After gbp/usd news time without big impact market started to slowly move up. So I figured maybe it's time for bounce because gbp was heavily sold all morning, it was especially weak in eur/gbp pair. That is more swing trading or position trading idea, but I use them very well for beginning of that move if there is any to take a scalp. Maybe it's just construction of my mind, but anyway what isn't. So I took scalp profit and got out when it approached middle of bollinger band and yesterdays support low that was taken out today, marked with blue trend line on 5min chart.
+11 pips, 0.9R, 0.75%
+11 pips, 0.9R, 0.75%
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3 comments:
Not only was that the middle of the bollinger band, but did you notice it was also touching a bearish trendline on the 5-min as well. Where was you stop located?
Good to see you back FX. Keep up the good work.
Thanks Sol!!
I didn't pay attention to that trendline at that time, I was more aware of previous support marked with blue horizontal trendline. My stop was at 460, 12 pips away.
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