May 5, 2006

2:20 pm EST: +0 pips

8:30- News candle broke through our range.
Price never went back within our range. No entry orders were placed.












*Today is a news day. Read first post for the rules on trading on news days before placing orders.

8:00 am EST- Trades

Long Trade:
Entry Order: Buy at 1.8525
Stop Loss: 1.8495
Target: 1.8559
*Move stop to breakeven when price hits 1.8539
**Beta- Close 1 lot when price hits 1.8539 and move last lot's stop to breakeven


Short Trade:
Entry Order: Sell at 1.8470
Stop Loss: 1.8500
Target: 1.8436
*Move stop to breakeven when price hits 1.8456
**Beta- Close 1 lot when price hits 1.8456 and move last lot's stop to breakeven