My views on future trades, past trades, the market and lessons learnt

Monday, May 18, 2009

Trade #3

As I stated before "looking to go long of a bounce from 1.3468 power level"...

I entered long @ 1.3471, after a strong hourly candle above this level.

Entry was confirmed by the 15m spinning top/bottom candle. These candles mark indecision in the market and are a sign of a reversal from the previous candle.

Exited at 1.3499, round number psych level.Trade size was only half a normal position (or 50,000units). I will stick to this rule for all breakout trades, and only use full positions on Power Level Bounces.

Summary:
Trades taken: 3
Winners: 3

Next Trade:
Will look to short @ the next power level 1.3534 for a quick 20pips, or go long from 1.3648 again in a few hours time...

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