I woke up late today, so at 0020hrs, I saw one green, and price was 2 pips above close. So I went long for 7 pips (since 9 pips is the tgt) and it hit at 0137hrs. Hit a new personal best for overall capital gains!
Technically this was a bad trade as I didn't follow the double bar rule of my system. However, there's good reason for this. There was a strong downtrend the past few days, which slowed at 0.768. It then bounced between that and 0.772 so it seemed like a consolidation phase. Therefore when it closed as a green at 0.77062 today, it was an indication of a trend reversal/stophunt. So that's why I went long. I was right, and in fact if I hadn't scalped, there'd have been another 50 pips to be made! That would have translated to an additional 20plus% capital gains! But hey, that's one rule I'm not breaking - scalping for 9 pips daily. For now at least. Trade safe!
Yours,
X
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