Major Movers
EURUSD Trend Line Break
March 4, 2010
Jeff Watkins (Fx-Enzo)
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Chart Analysis
Today's highlighted major mover currency pair is the EUR/USD pair focusing on the 60 and 15 minute charts.
The trade setup shown is the Trend line break from the 60 minute chart. However, had we traded this setup from the 60 our risk would have deemed the setup Un-tradable.
Although the trade would have been difficult to place from the 60 minute chart, had we placed it on the 15 it was considered a good setup.
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Chart Analysis
This particular trade setup on the 15 minute chart actually gave us what we call "great equity management;" where we are risking very little financially and going after a fairly large profit.
Trading this setup on the 15 minute chart called for about a 30 pip stop loss, and a 120 pip potential profit.
As you can see; after taking entry into the market just a few short hours later the market moved down and hit our limit for profit, thus resulting in 120 pips in pure profit!
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Analysis
As a new trader identifying these types of setups can be difficult, especially without the proper education.
However, with the right education and mentoring you to can perform trades such as the one we were able to execute today.
If you were one of the select few who by chanced miss this trade because of your lack of education, or understand of the market don't wait any longer setups like this come every day!
All of the analysis is done using the MTI 4.0 charting software, practice these, and other great strategies for FREE, by downloading a 14 day trial of MTI 4.0 charting.
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