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

Tuesday, January 5, 2010

5 Jan, Short & Quick - Aud/Usd & Eur/Usd

Long the Aud/Usd but price dips which shows the lack of discipline to wait for more momentum. The good thing about this trade was that i quickly cut the loss by closing at -11 pips, and did a short when price dips below the lime green 20SMA. Price continue to go down and escaped with +13 pips.

Concurrently, sold Eur/Usd below 23.6 fibo level prior to closing of 1H candle. Screenshot 15M juz for zooming in. Price dips after 1H candle closes below fibo, average in another trade. +18 pips on two trades.

US Home Sales data was terrible. The prices that dipped on the previous hours are now recovering quickly upon the announcement. My trades today are pretty simple and hasty. Just in, collect the profit and out, thankfully it went well.


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