"Forex trading could be your key to financial freedom if you could consistently earn pips and at the same time realising the power of compounding".- Harwin Poon


PMTFC first trade

On the chart I posted earlier. If you drew a trendline from its highest high (head) down to the right shoulder, you will see a resistance line stretching down to 1.6515. The Stoch and CCI is now curved down showing a possible bear move. Using 1% of margin, I took a short (sell) hedge position when price bounce off that trendline down back to 1.6506.

This might just be a short term trade. 1.6478 is a good exit point. It is the 50% fibo of previous swing and lower trendline is in-line with it. But then again, the exit will depends mainly on what indicators tells us...

If price went against the initial sell hedge and candle close above the upper trendline. I will open a long (buy) hedge position with 3 or 4% margin. This way, the gain will offset the loss later.