The trade opened yesterday has just made its target of 1.5835. As mentioned earlier the cable looks very weak and can fall much further. The target was computed using a Fibonacci extension of the last pullback on the four hour chart. This use of Fibonacci to calculate targets is taught in my forex trading course.
I have just booked at 165 point profit from the first trade reported in this BLOG.
I wont do anything now untill the the New Year and will start operations on the 4th January 2010.
Good Trading
David
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Only a seasoned and successful trader can call a 165 pip high probability winning trade in the worst trading week of the year. Great start to the blog David and good luck with its future. I for one will be following very closely!
ReplyDeleteMike Collier