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Update: 182 pips taken off the USD/CAD

Update: 182 pips taken off the USD/CAD
Wednesday, November 18th, 2009 @ 3:58 pm by Chris Hall

About Chris Hall:

Chris Hall Chris holds a BA in Information Technology, and before becoming active in the forex sector he worked for 6 years running his own internet services company. Chris' true passion was in trading, which he began on the stock market, but shortly thereafter moved on to forex trading. Learning from some of the best traders out there, he quickly saw how important statistics and probability play in the market, and with that playing harmonic patterns were the way to go and were like second nature to Chris' trading style and personality.

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Good day!  So I thought I’d post an update to some of the trade calls and discussions that we do here on the blog.  We had managed to get filled on the USD/CAD (green line)  pair and hit our target (yellow line) before hitting our stop (red line).  This was outlined on our previous post:

Can You Expect The Unexpected?

We had successful turned out of the PRZ zone and headed up to our first target in which we took our first lot off … we then continued to hold a lot hoping to reach the higher targets but we got stopped out at break even on our last lot.  So total pips taken from this trade was 182 pips.

Now, lets get a few things straight.  I didn’t know this was going to happen… but, the odds, and the probability of us being right was higher then being wrong.  So with that in mind, we take the trade knowing that over time we are going to be more right then wrong.  And isn’t that the whole point?  So congrats for those of you who play harmonics and took this trade… you did well.

182 pips secured from the USD/CAD trade

182 pips secured from the USD/CAD trade

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