Opportunistic 20 pips, GBPUSD (3 Apr 09)

Its apt that this trade is called an opportunistic trade. This probably comes around once in a while. You need to be sharp and observant about market pattern to capitalise on what is presented to you.


Prelude:
Opening my trading screen, I was presented with an ascending wedge as seen in the 1st graph above. The normal instinct is to setup a long breakout above the resistance. What I also noticed was the price setup; breaking from the MAs to touch the resistance.


The Trade:
Entry just above the fastest moving MA @ 1.4811.
Stop Loss below the 3MAs (strong support) @ 1.4796. 15 pips SL
Target Profit of 20 pips @ 1.4831. Aiming for the ceiling.
This trade concluded in a short 3 minutes. The price rushing to hit the ceiling but finding difficulty breaking that resistance thereafter.


On Hindsight:
I classified this an A+ trade in my journal. Do I need to say more?