My First Trade in the longer time frames - success!

30 Dec 2013

Trade Logic:

Short H4 Divergence and general weakness I all charts. SL 15, spread above sup 2,  TP 20, spread above sup 3 .

Slight problem that the trade was just above, 1206. 18 also in all time frames market oversold. However had just rallied in H4 and AUX is really weak right now so a further slide seems a good bet

Result:

Slid through 1206 within minutes, but bounced 50 cents down and went up to near R2 (12 pips) Then went down, this time 1206 offered only slight resistance and price plunged to just below R3, taking my stop with it

37153987     2013.12.30 08:47   sell     0.01   xauusd         1206.18       SL1207.93          TP 1204.09   2013.12.30 09:42   1204.09       0.00   0.00   0.00   2.09