( +37, +44 , + 70 , +60 ) week13 EURAUD h1 momentum trade according to ‘levels’


On the HTF, the big 4 months head and shoulders development in this market have been extensively documented previously.
Since falling off the bearish flag/ ED channel, price saw a very stable downtrend.
It is during this time that I turned to the ‘level’ and hit hard on every h4 close.
This method worked mainly due to the stable n gradual downtrend. Any small consolidation near the ‘levels’ only served to confirm the presence of these levels.
With risk defined, I therefore hit hard on short positions as close to the levels as possible.

Hence, each time, I will be booking profits in batches of 60-90 pips.
Eventually, decided to book all profits early as capital registered my first doubling of account.
The larger than usual size did not help as it was a bit nerve wrecking and margin was almost to 130% at one time.

week13 EURAUD h1 very stable trend 280314


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s