Wednesday, June 3, 2009

EUR USD 2/6/2009


Last night, there was a good trade for EUR USD before 8PM. There was a strong support at 1.4200. On the hourly chart, overtaking criteria was valid as it was a continuation. 5 minutes chart was brought up for precise entry. A trade was engaged at around 1.4217 and the trade was closed off at around 1.4277. Stop loss was at around 1.4200, risking 17 pips for a potential reward of 60 pips. Risk Reward Ratio - 1: 3.5