Donnerstag, 23. Juli 2009

Update SMMS journal 22.07.2009


to an unchristian time for me EUR/GBP hit the hourly RSI overbought level and triggered a short 0.8660. The price and RSI continued to climb , so i added a second unit at 0.8680 (RSI 72.4!). Exit for the firt unit was at RSI trendline (first arrow up) 0.8665 , after trendline break was confirmed, i let the second unit run until new trendline test at 0.8655 (second arrow up). total position 2 units 0.8670, out 0.8660. 10 pips doesnt sound too much/Warren buffet like , but regarding that it was two units and the pip value in this pair is nearly the double than EUR/USD, this was a very nice trade. Aggressive traders wouldnt take profit at trendline test, but wait for continuation of downtrend and crab more pips (low 0.8640 hit some minutes after!)




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