A successful trade

Hey guys, just an update on a recent trade that I did yesterday. I believe many people should have made some cash out of the same opportunity. But here's the basic details.


This first graph is a 15min one. And basically I longed the currency close to the bottom of the that steep climb you see there. The entire movement is about 160 pips, stretched over several hours. BUT, as any and every trader knows, you would have set a stop loss and target profit. In this case I took profit at 50pips.



But that wasn't the reason why I entered the trade, the parabolic dots had no influence on me in this trade. But if you guys would care to look at the 4hour chart, it would be easily to realise that the GBP/USD pair has been on a downward trend for the past 2 weeks or so. So according to the channel, the pair was at the lower end of the band, which under usual circumstances, are an excellent place to buy to gain from a northward movement of the currency.

But I guess that's still not enough, so here you can see, on the daily graph, the stachostics actually crossed over the day before the huge move upwards.

At the same time, the pair (if you enlarge the daily graph you'll see it) broke thru the mid term MA in red, which means it has gone back into the long term direction of GBP strengthening/USD depreciating as indicated by the long term MA in blue.

So I hope that's not too difficult to identify? Right? No problem, we all can do it and earn something from this interesting market.

PS. I'm in for a long swing trade for the pair, but it's losing right now. But I've set the stop loss and wait for the retracement action to subside, then I can see some profits.