Date: 18 July 2012
Venue: Office
Pair :NZD/
USD Time frame:H1
Direction: Long
Result: +1R
Approx Strategy: Double Divergence with ABC
Yesterday's AUD/USD turned out to be a negative -0.5R. Saw that there market was moving very strongly and NZD/USD H1 was showing trade signal of both double divergence and ABC. Decided to base my Take Profit according to Double Divergence rules which is 1R. This is because 2R is much more than the 61.8 expansion and 61.8 is a strong overhead resistance.
Was thinking to trail the profit but decided not to. Sometimes when the trade is going your way, its easy to get carried away...
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