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Friday, January 9, 2009

Trade: Cut Loss EU, Closed GJ 121 Pips (7 Jan)

I enter short EU on 7 January morning Indonesian time at 30 EMA. The pair turned on bullish after going down until 1.3433, about 90 pips from my entry price. My target was 1.3380. I decided to cut loss even my stop loss was not broken yet because of the 5,13,21 EMA crossover and QQE cross 50 level. I exit after the price move closer to my entry point so the loss was not too big, which was 51 pips.


I also entered long on GJ at 30 EMA. Entry point and stop loss shown in the chart below. The uptrend has been going for 4 days actually and a trend change is very possible. However I kept entering because the channel was already broken. In addition, my previous analysis on H4 and daily chart supported my decision. It was a nice trade actually. The pair test the previous high again immediatly. My exit also shown in the chart below.

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