Posts Tagged daytrade
A pinbar usually shows strong buying or selling. That, alongside the direction of the trend is usually a good entry to get into a trade. I went long the USDCAD on the break of the high of the pin at 10296 with the stop at the low of the pin at 10210. Therefore I am risking 86 pips. I would like to target 2x risk which gives me a target of 172 pips but as a minimum, I would see what happens when (and if) my trade reaches 86 in profit.
The weekend is here and I'm going to let the trade run it's
June 8, 2012
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So after contemplating whether to put on the trade last night, I entered at 9652. The market has moved higher but not with any particular strength as yet. I'm currently around 70 points up at this stage but am looking for a 200 point gain with this trade with my target at 9852. Another target could be also just below 10000.. I've got to see how price action goes for now...
The highest for the day was 9769 which would have been a 117 point gain if one managed to take profit at this level....
May 10, 2012
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I've had a lot of stuff on lately and not been able to commit myself to the markets as much as I would have liked. However, I did have some time today and was able to take a simple bounce off the Daily Pivot on the Euro (EURUSD) currency pair.
My target was yesterdays high at 13117 and I actually got out at 13115. A simple trade which got me 20 pips!
April 25, 2012
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