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Sep 17

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160 PIPs on Cable and EURSD

Trade 1 on cable was a nice bounce of DP yesterday on the 1H chart that I held overnight and it matured for 60pips and 1:1 r:r at about 07:00 today. Trade is pictured below.

Cable 1:1 60 pips

Trade 2 was on the daily chart on EURUSD – looking for break of  high set for last 2 days. Wednesday’s candle was very small, so able to get in with a relatively small Stop Loss of 100pips. That triggered at 09:30 Thursday and matured 08:30 today….12 hrs holding a trade – me – unheard of. Again a 1:1 trade so very happy noy to trade any further today.

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Permanent link to this article: http://intradayforextrading.co.uk/2010/09/17/160-pips-on-cable-and-eursd/

2 comments

  1. Hector

    Hi Jim, I like your blog keep going
    I see you are using a different strategy on your las two trades, could you talk us a bit about this new way to look at the charts?
    Thanks

  2. Jimmy_FX

    Hi Hector, Thanks for the feedback.

    Yes, 4H.

    I am focusing on the 4H trends and looking for pull-back / retraces on the 30min chart. Using the Daily Pivot or major horizontal support and resistance price as the bounce area. Nothing complicated as there are many strategies on the web that trade this type of system.

    The 2 trades I took that I put on the blog were pull backs, but on longer timeframe. So instead of 5-10 candles on a 30min pullback on a 4H timeframe just 1 candle might be the pullback. So much more attention to the candle formation on longer timeframes vs shorter timeframes.

    Hope that explains!
    Jim

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