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Tuesday, 28 August 2012

EMO! EURUSD jumps to session highs following positive data in the EMU.....
loss: -30pips
lesson learnt: stick to 1hr time frame and be patient!!!

trade idea: sold EURUSD

since yesterday i was planning to sell EURUSD but i was kinda worried about the news. i wasnt sure whether the news will be bad or good, so i hold on until today. i read fundamentals news from Pip Diddy and tonight USA consumer confidence may be good news. i decided to sold it since there isnt much good news for Euro and it's been downtrend for almost 2days.

at 1 hr timeframe, it's look like EMA 5 is crossing upwards over EMA 10. however RSI is moving downwards, away from 50. slow stochastic seems to be having a crossover soon *cross finger*. so i switch to 15min time frame, and try to see whether is it the time to sell or should i continue to wait. 15min timeframe seems to be perfect. EMA 5 crossed downwards over EMA 10. RSI below 50 and moving down. slow stochastic is also downtrend.

sold @ 1.2480 / SL @ 1.2530 / PT @ 1.2420

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