Small trade on aftermath of IFO release. First M1 candled pushed lower but reversed. We would be waiting for the confirming candle on M1 (since the first candle body was under 10 pips) and enter on its close. I did not take this trade, but I would go for 5 pips SL and 7 pips TP. Also it was possible to close half of the trade at 7 pips and let other half run with 7 pips trail stop. In this case second half would yield 1-2 pips only as trade quickly reversed.Wednesday 24 August 2011
IFO Bussines climate fade
Small trade on aftermath of IFO release. First M1 candled pushed lower but reversed. We would be waiting for the confirming candle on M1 (since the first candle body was under 10 pips) and enter on its close. I did not take this trade, but I would go for 5 pips SL and 7 pips TP. Also it was possible to close half of the trade at 7 pips and let other half run with 7 pips trail stop. In this case second half would yield 1-2 pips only as trade quickly reversed.
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