Drum roll please! So many brilliant ideas, but one stood out from the rest.
The winner of the Trade of the Week Contest for July 4 to 8, 2011 is none other than Donnapinciotti!
Check out the trade idea that let her bring home the bacon this week:
GBP/JPY, 4-hour
Long or Short: Long
Entry Point: 130.50
Stop Loss: 129.50
Profit Target/s: 132.50
Reward-to-risk Ratio: over 2:1
Risk percentage: 1%
Indicators used: None
Trade Rationale: I see an inverse head and shoulders on the 4-hour chart of the pair. I’m planning to go long around the break of the resistance at the neckline.
Trade Adjustments: I’m gonna move my stop when I’m halfway to my profit target.
Congratulations! Every trader will now freeze in awe at the sound of your name. Okay, maybe not. But don’t be too surprised if someone asks you for an interview or an autograph!
For those who didn’t win, don’t give up! Put your thinking caps on for this brand new week and keep your eyes peeled for ’em sexy setups!
Who knows, it may be your name that I’ll proudly be announcing next week!
