The price at the time of writing was 1.5419 at around 16:45 EST (21:45 GMT). As the price was moving sideways into a nice little triangle, it made for a perfect entry. I stated a profit target of 1.5475. The profit target was hit around 19:15 EST (00:15 GMT), or about two and a half hours later. The trade would have yielded 56 pips if entered at the time of the post.
What made the trade better was that the price moved less than 5 pips against you at the time of the post. A sensible stop-loss would have been 25 pips or so, giving a slightly better than 1:2 risk/reward ratio.
As I always say at the end of my posts, trade with a stop-loss and enter only when you have a good risk/reward ratio.
H. Hamid
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