Sharingan on EUR/USD(05/03/12)Going Bullish(Daily chart)

A. currency pair and time frame: Eur/Usd(Daily)
B. Buying
C. I entered the trade at 1.32103
D. I will cut my losses at 1.31166
E. I will be taking profits at 1.33784(However I will be using a trailing stop profit once it goes beyond 50 pip)
F. Reward-to-risk Ratio:I am risking 2% of my account to gain a lil bit above 3%
G. Risk percentage:2%
H. Indicators used: MACD(12,26,9), Stochastic (10,3,3), EMA(10 and 5)…(My stochastic and MACD give me info about the market being over sold or over bought, my two EMA’s give me info on when the currency p air is about to make a reversal and for this case, its when the 5 EMA crosses the 10 Ema)

I. An sweet set up ready to be slashed silly. The EUR/USD is almost touching an ascending trend.Stochastic is almost oversold and MACD is negative and about going positive.

Now this is one of my favourite slashing techniques…You would notice that I clearly marked the 3rd support on the trend…80% of the time this 3rd support is the strongest.

J. Trade Adjustments: For now I would allow it run and the good thing about this pair for now is that from now and the whole of tomorrow there is no news on either of this pair, so there would be enough time to slash enough pips hopefully