I'm glad to see it worked for you. It's happening all the time to reverse
that's why is better to keep the 10 pips profit limit or less if you are too suspicious
Better safe than broke.
Getting back to today's trade, it was a real success and as I wanted, I recovered the loss from yesterday's failure and added some more profit because of perfect setup that happened earlier today.
Here is the chart:
I placed a Trend Line (green) between 2 important points (see the chart).
Early in the morning the 2 EMAs crossed very shy, around 2.00 AM GMT
Then,
6.00 GMT: Price breaks the RegChan, but not the TL, and also MACD turned down
6.30 GMT: Price breaks also the TL
(Please notice how TL and RegChan "work" together - this means no angle between them and their levels must be taken into consideration very serious.)
7.00 GMT: Price retraces and W%R confirms by going above the -80 level
Isn't this Setup Perfect ?
So, we enter with confidence:
7.00 GMT: Entry, SELL Order with 2 lots @ 1.9871
Target: 1.9861
Time of trade: approx 5 minutes
Target reached !!!
Profit: 10 pips x 2 lots x $10 per pip = $200 (-$40 from yesterday) = $160
That was all for today. Huh ! So much hard work
See you tomorrow !
And Happy PIPpin' !