Thursday, July 12, 2007

GBPUSD trade completed

GBPUSD trade completed


On the chart are visible entry points and exit (in red).

Trade started on 27 June on break up the three days channel.

Next day another order was added on break up the previous high.

I've missed next break up and I've hesitated a lot whether to close positions on down retrace.

As profit was locked I decided to leave order opened until price is above the MA.

Retrace ended and next order was fired on the break of the high. Next orders have been placed upon each break of the bar's hight.

Because of the retrace on the last bar, which was almost 50% of the bar and the distance between price and MAs, I closed this trade

Each order consisted of 1 lot. Each lot was 150% of the account balance.
Total profit for these 10 days was almost 20% of the starting account balance.

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