June 1, 2006

2:45 pm EST: -21 pips
Beta: -42 pips

8:40 am EST- Candle does not close within our range. No orders placed.
10:00 am EST- Candle closes within our range. Placed entry orders.
Long trade triggered at 10:50 am EST.
Target not hit by 2pm EST. Closed trade.












*Today is a news day. Wait until at least 8:40 am EST before placing your orders. If price is outside the range then wait until it closes (using a 10 minute chart) back within the range.


8:00 am EST- Trades

Long Trade:
Entry Order: Buy at 1.8690
Stop Loss: 1.8640
Target: 1.8751
*Move stop to breakeven when price hits 1.8718
**Beta- Close 1 lot when price hits 1.8718 and move last lot's stop to breakeven


Short Trade:
Entry Order: Sell at 1.8595
Stop Loss: 1.8645
Target: 1.8531
*Move stop to breakeven when price hits 1.8566
**Close 1 lot when price hits 1.8566 and move last lot's stop to breakeven