Euro Dollar Five Minute Chart
Good morning Pipsters.
Here is this mornings trade from the Forex Trading Floor. This trade was taken on the EURUSD using a seven pip stop and seven pip target. EUR had been trending down on the five minute chart and had approached the bottom of the channel with relative strength. I placed a stop entry order below price action on the one minute chart and was entered and quickly presented with my 7 pip target. As you can see from the one minute chart I took no heat on this trade at all and therefore I am pleased with the result.