(65514956) trading the major pairs with support and resistance & channels
Hello My dear Friends
I'm happy to participate in this contest and , I will try to do my best
Login : 65514956
Server : InstaForex-Contest.com
Investor : jcxdmy49 (read only password)
I'll use the support and resistance & the trending channels , if the price is at support line then i will go long and my tp will be the next resistance line , and take into consideration also the channels that is with the main trend , my time frame is 1H, and 4H , and daily frame my stop loss will be based on Support or Resistance also but the 4H or Daily resistance ,I trade the major currencies , through a preset template
---------- Post added at 09:14 AM ---------- Previous post was at 07:37 AM ----------
I opened a sell position on GBP/JPY @132.57 , and my TP is 5 pips @132.62 , it's with the major trend which is up , and the condition for the trade has been satisified
---------- Post added 12-07-2012 at 01:42 AM ---------- Previous post was 12-06-2012 at 09:14 AM ----------
early toady we opened E/J trade but we closed it with 5 pips only as i wasn't able to follow it
I also made a pending order and has been activated , buy on G/U (.06 lot) @ 1.6063 , as it's 4H support and the target below the 4H res. by 3 pips @ 1.6024 ...
- I'm also now opened 4 new trades as follows...
1- Long On E/J @106.82 (.06 lot) as it reaches the bottom of the 4h up trend channel and supported also by weekly res. at this area my initial TP at the 4H res. at 107.94
2- Long on G/J @ 132.16 as it was touched 4H upward trend line , my initial TP @ 132.64
3- Long on E/U @ 1.2964 as it reaches 4H upward channel bottom , my initial TP @ 1.3041 where the weekly trend line res.
4- Long on G/U @ 1.6051 as happened with E/U , my Initial TP @ 1.6119 where there 4h downward 4H trend line
I also trading with support and resistance lines, and with 2 strategy, 1 for trending markets and 1 for ranging markets. I made small profits while market break outs. Please, update your orders with profits. All the best.
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