S1B – Long EURAUD (Dec 11th)

Image

Buying strength, selling weakness (extreme ends of the scale)

Risk: Australian employment report overnight (i.e. early Thu morning)

Here I had initially entered an order to pay 5070 (when it was trading 5080) – then price rallied to around 5100 and then pulled back.  I decided to enter at 5085.  Price dipped further to around 5075 and then rallied.  So with this trade, I would not have been filled if I had waited for price to go to 5070.

At the time of writing this post, price had already rallied to a high of 5132 (+47 pips), which is the previous high (it has been touched three times in Dec) – so I will very shortly raise my stop to the entry level.

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s