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Log in91pips,$91 minilots,$910 standard lots on gbpusd friday morning
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91pips,$91 minilots,$910 standard lots on gbpusd friday morning
by Stalion on Fri Apr 25, 2008 4:09 pm
What happened today on the gbpusd currency pair?
Well, we had a triangle chart pattern on a downtrend, a bullish hammer and MACD positive divergence to price, which gave us a signal to go long.
1.9786-1.9695=0.0091
1.9744+0.0091=1.9835
so,meritlife, as you can see, our target point was at 1.9835,which gave us 91 pips or thereabouts. As price is coming close to your target point, you should be tightening your stops and getting ready to close your trades. Some seasoned traders would put out a trailing stop to catch the maximum pips allowed, while others might place a sell stop below the 1.9835 in order to take advantage of price reversing back downwards.My students made up to $91 on a mini account,$990 on a standard account.
Well, we had a triangle chart pattern on a downtrend, a bullish hammer and MACD positive divergence to price, which gave us a signal to go long.
1.9786-1.9695=0.0091
1.9744+0.0091=1.9835
so,meritlife, as you can see, our target point was at 1.9835,which gave us 91 pips or thereabouts. As price is coming close to your target point, you should be tightening your stops and getting ready to close your trades. Some seasoned traders would put out a trailing stop to catch the maximum pips allowed, while others might place a sell stop below the 1.9835 in order to take advantage of price reversing back downwards.My students made up to $91 on a mini account,$990 on a standard account.
