BGX FOREX TRADING STRATEGY
Trading GBPUSD January 11, 2008
| Daily Open | 1.9712 | |
| Cross/bonces wma | 1.9554 | Time : 11:30 GMT |
| Forex signal | Buy | |
| Damiani volatmeter | Trend formed | |
| Relative strengh index | Above center | |
| Entry point | 1.9584 | Time : 12:55 GMT |
| Stop loss | 1.9564 | 20 pips below entry |
| 1st Lot target +15 pips | 1.9599 | Time : 13:00 GMT |
| 2nd lot target +30 pips | 1.9584 | Time : 13:10 GMT |
| 3rd lot target +50 pips | 1.9584 | Time : 13:10 GMT |
| 4th lot target Folow price | 1.9584 | Time : 13:10 GMT |
| Forex trade result | Gain | |
| Pips Result | 15 pips |
Note:
Price has moved down before I entry the market. GBPUSD has down about 130 pips when I open my trading platform. After down I see that GU is going to rebound, and another cross wma was formed at 1.9554, price moved heading up to wma 100 and daily open. Entry point 1.9585 was being above wma 100 but there was daily open line at 1.9612. I saw a litle space to take 1st profit at 1.9599 (15 pips) so I dare my self to trade. It was a risky trade so I use tight stop loss about 20 pips. 1st target was hit and I moved SL to B/E. Price touched daily open and reversed hit SL at B/E point. Result +15 pips
