BGX FOREX TRADING STRATEGY
Trading GBPUSD January 07, 2008
Trading GBPUSD January 07, 2008
| Daily Open | 1.9716 | |
| Cross/bonces wma | 1.9700 | Time : 08:30 GMT |
| Forex signal | Buy | |
| Damiani volatmeter | Trend formed | |
| Relative strengh index | Above center | |
| Entry point | 1.9739 | Time : 12:00 GMT |
| Stop loss | 1.9723 | 2 pips below wma 100 |
| 1st Lot target +15 pips | 1.9723 | Time : 12:30 GMT |
| 2nd lot target +30 pips | 1.9723 | Time : 12:30 GMT |
| 3rd lot target +50 pips | 1.9723 | Time : 12:30 GMT |
| 4th lot target Folow price | 1.9723 | Time : 12:30 GMT |
| Forex trade result | Loss | |
| Pips Result | -64 pips |
Note:
Good forex strategy but bad result for today. Trade GBPUSD againts wma 100 line. Wma cross at 1.9700. Waiting and seeing if there were a candlestick close above wma 100 line. at 11:30 GMT a candlestick close at 1.9732 and the higher price was 1.9739. Buy stop order 4 lots was placed at 2 pips of the higher price. And stop loss was placed at 2 pips below wma 100 line. Result -64 pips
