Forex Trade: EURAUD 300 Pips in 3 hours
March 8, 2009
Want to show you all a great trade from last week on the EURAUD which shot up over 300 pips in 3 hours. Forex has its ups and downs, sideways movements, stale markets… well, not with this pair on Friday. I’ll point your attention to the ever-useful Rainbow MMA Crossover template as seen on this FXDD Meta Trader 4 chart. At around 7:50 GMT the pair crosses over from a downward trend, to an upward moving trend as evident with the “flipping of the rainbow.” If you are trading just that indicator alone, you would have made anywhere from 250-300 pips in a few hours, exiting near any one of the resistance points, motnhly daily, or even fibonacci target lines.
I did not enter this trade, merely watched it fly into the statosphere, kicking myself after each resumption of the upward trend after each pullback occured. Darn, maybe next time I should have a little more confidence with this pair, even though my spread is 6 pips.
March 18th, 2009 at 2:16 pm
Hi, good analysis there. I made a 505 pips in 5 hours before. So when I looked at the title of this post, somehow looked similar.
Regards,
Dan
March 9th, 2009 at 1:06 am
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March 8th, 2009 at 8:31 pm
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March 8th, 2009 at 7:53 pm
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March 8th, 2009 at 7:16 pm
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March 8th, 2009 at 7:12 pm
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March 8th, 2009 at 6:02 pm
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March 8th, 2009 at 2:54 pm
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