Comment by Mihai Marinescu on April 5, 2011 at 4:58pm

The reason why I am waiting instead of putting in the normal 2 lots trade: the current rally climbed aggressively all the way to the 78% of this week's retracement and the very short-term momentum seems to fade right as this key 1.4238 level. I like the trade & have been waiting for the right time to go back long, but I think I should get a better price later on or tomorrow during the Asian session. If on the other hand I am wrong & the pair just soars to fresh highs immediately I will hold the current trade & still look for a retracement after the breakout in view of targets 1.4350 & beyond.

 

Sorry the initial TP levels are incorrect, I typed wrongly as I was rushing to post the trade while it was hot :) adjusted now.

Comment by Mihai Marinescu on April 5, 2011 at 5:39pm

I set a pending order to LONG EURUSD @1.4204, 1 lot. This will complete the trade.

Comment by Mihai Marinescu on April 6, 2011 at 4:05am

My order was not filled last night & the first position went in profit it's now up 34 pips. I can't entirely cover my risk yet but I lifted my stop higher to 1.4194. Cancelled the pending order, will look to add the second lot manually most likely during London session.

Comment by Mihai Marinescu on April 6, 2011 at 6:24am

took out the first lot @1.4273 for +50 pips. Will wait for a retracement to re-enter on the same signal.

Comment by Jyotiprakash Pal on April 6, 2011 at 8:47am

I close at 1.4310... i am done .. thanks sir ..  Ireland sees no bailout rate cut before June http://uk.reuters.com/article/2011/04/06/uk-ireland-bailout-idUKTRE...

Comment by Mihai Marinescu on April 6, 2011 at 9:09am

that was a great exit Jyoti, I wish I had exited there - instead I forgot a TP level from last night & was taken out with +50 pips only. then I wanted to re-enter, but didn't get any opportunity. Hoping to re-enter this long around 1.4270-80, we'll see.

the TP was meant strictly for Asian session... I was under the impression I had the default +115 pips TP set but I was wrong.

Comment by Mihai Marinescu on April 6, 2011 at 1:53pm

Re-entered on this signal LONG EURUSD @1.4294, SL @1.4246, TP @1.4344 & 1.4410, 2 lots

Comment by Mihai Marinescu on April 6, 2011 at 2:37pm

Closed both lots @1.4315 for aprox. +20 pips each. Not a glamorous trade & i may be missing the bulls' party tonight but since the pair is at a major resistance & a fake breakout is quite possible I prefer not to take a chance on the live accounts (especially with such a high entry). I have a cumulated +92 pips on the current signal & will stay alert in case the breakout through 1.4320 occurs I may enter 1 lot for another 20-30pips run.

Comment by Mihai Marinescu on April 7, 2011 at 9:06am

the correction started last night was quite serious, but since the short term support @1.4283 seems to be holding well for now & the trend buster signal is clearly still valid I decided to give it another (possibly final) shot: LONG EURUSD @1.4295, SL @1.4255, TP @1.4410, 1 lot only.

Comment by Mihai Marinescu on April 7, 2011 at 11:08am

I had to close the last entry @1.4273 as I received an exit signal from my Trend Buster system.

 

Signal #8 is no longer active. Unfortunately the system gave me a +155pips on this trade, out of which I only managed to bank +70 pips over a few trades. This time paper trading outperformed my live trading.

 

Looking forward to the next entry. As this trade was a winner I will use no boost on the next.

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