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Thursday 11 August 2011

AU EC trade

Another glorious setup. Unfortunately I did not trade it live, as my current broker had around 5 pips spread on A/U and with stop loss of 15 pips it would consume third of it immediately and increase risks. While I am waiting on getting account open with another broker, this setup would work like a charm:
- over 60 pips on first minute spike and around 85-90 to the low
- trading it off the 15M charts
- since the very first candle provided a bill pull back and was more looking like a pin bar it justified the entry without waiting for the next 15M candle
- 25 pips would be easily obtained (in fact up to 70) with 15 pips stop loss, trade never went into negative except spread on opening


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