Beautiful trade setup and very active session – thanks in large part to the US election results.
The Asian session was very active as the election results indicated President Obama was re-elected. As the UK traders began their session they sold off the EUR and after a pullback which resulted in a lower high with a wicky candle, followed by a bearish candle, an entry short is taken, with a stop loss just above the wicky candle high. This met our reward to risk with a 4:1 ratio. Price moved down promptly to yesterday’s high – which it retested, then moved down and through our Target 1 – where we do not give back profits once attained. The trade progressed through our Target 2, and through the Asian session and yesterday’s lows. We close the trade on the next candle as price begins to move up, to protect our profits.
Exceptional day with exceptional profits.
It’s rarely this easy!