GBP/USD @ 1.9871 SELL + 10 pips x 2 lots Profit

Hello my friends,
I am back for today's trade, it was a real success and as I wanted, I recovered the loss from yesterday's failure and added some more profit because of perfect setup that happened earlier today.

Here is the chart:



I placed a Trend Line (green) between 2 important points (see the chart).
Early in the morning the 2 EMAs crossed very shy, around 2.00 AM GMT
Then,
6.00 GMT: Price breaks the RegChan, but not the TL, and also MACD turned down
6.30 GMT: Price breaks also the TL
(Please notice how TL and RegChan "work" together - this means no angle between them and their levels must be taken into consideration very serious.)
7.00 GMT: Price retraces and W%R confirms by going above the -80 level
Isn't this Setup Perfect ?

So, we enter with confidence:
7.00 GMT: Entry, SELL Order with 2 lots @ 1.9871
Target: 1.9861
Time of trade: approx 5 minutes
Target reached !!!

Profit: 10 pips x 2 lots x $10 per pip = $200 (-$40 from yesterday) = $160

That was all for today. Huh ! So much hard work :)

See you tomorrow !

And Happy PIPpin' !

GBP/USD @ 1.9795 Sell - Failure (Learn)

Hello my friends,

Today wasn't such a great day, because GBP/USD tricked us :D. But I'm sure you will learn something new from this experience.

Here is what happened:



7.30 AM GMT: Price breaks the RegChan and TL and turns the 2 EMAs (please notice that TL made a big angle with the RegChan - that's not quite good)
8.00 GMT: MACD turns down and W%R above -80 level

Entry: SELL @ 1.9795 with 1 lot (because W%R didn't retrace but continued after a small retrace so I better be careful - and more the big angle between TL and RegChan)
SL: 1.9819 + 10 pips = 1.9829 OR max 30 mins (or at the end of next candle after entry)
Target: 1.9785 (never reached)
Time of trade: 30 mins (exit at close of the candle)

Loss: 1.9795 - 1.9799 = - 4 pips x $10 per pip x 1 lot = $40 pips

Well there were only 4 pips loss or $40. I will recover them for sure in the next days.

Happy PIPpin' !