Friday, 15 April 2011

Some more EUR/USD M5

Thought it was entering before news but the setup was perfect. I thought if it goes some distance before news I might either exit or be safe. I did not exit and it payed off. Although I was kind of worried at that time, which i should not be because my worry has got nothing to do with Chaos, just follow chaos.

I'm also short on H1 on EUR/USD still.



Edited: 26 Apr 2011

I receied questions as to how was I able to time the exit so perfectly. The answer is simple. Its discussed in our EUR/USD Strategy. We make entreis on m1 timed with trends on M5. We also use M1 for counting waves. This M5 trade showed a completed 1-5 sequence on M1. So i trailed candles on the 5th wave of M1 which means possible completion of 3rd wave on m5. Moreover M5 chart was also showing signs of possible divergence. However we received our exit before Div was proven on M5.
heres is the picture.  (This is for Raj)