"Take Risks: If you win, you will be happy; if you lose, you will be wise. Nothing ventured, nothing gained."

Tuesday, December 15, 2009

Symmetrical Triangle - Aud/Usd Daily

Updates on my Buy Stop and Sell Stop from yesterday. My trades executed (Eur/Usd & Usd/Jpy, short and long respectively) while i was in my office, and both my s/l and tp was wide. Was monitoring in my office and the dollar was very bullish, which was good for my trades. On top of that, PPI m/m was bullish. Short eur/usd below week's low. I coulda rallied maximum 40 pips on eurusd after, but price retrace to my trailing stop after bad TIC Long term purchases which was bearish for dollar.
(+20 on the pair)

Usd/Jpy was also buy stop at price 89.00. I felt that if usd could push to that price, it should have no problem pushing through to 90.00. Japan's offering $81 billion stimulus package could cause some wild swings in its exchange rate. I am still looking forward to a bullish dollar. Another good thing i found out about buy/sell stop is that instead of entering for a reverse (buy/sell limit), u can actually place u somewhere below the support level (if u sell stop), or above the resistance (if u buy stop), becuz it goes with the flow of the price.

Current position on the Usd/Jpy. Protected my profits and did a 35 points trailing stop.
(+90 pips closed)

Symmetrical triangle still consolidating off Aud/Usd since yesterday's image. My sell stop is still waiting for an ambush.



Risk Control Master said...

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Black said...

Hi RCM, added your link! thank you for sharing :)) i'll check it out soon..

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