Wednesday, August 20, 2008




Two trades
took a long late, in retrospect i was chasing price and ended up buying at resistance. More importantly my timing was bad. Stoch was rolling down(1min) and we were 20 or so minutes out from the crude oil inventories that ended up being incredibly bullish for the dollar.

Trade1
EUR/USD
entry long = 1.4761
exit = 1.438
loss = -23 sl blown on spike after release

Trade2
note- we were coming off triple bottom, seemed the usd was falling, 3min before the oil inventories there was a bearish usd spike(possibly hedge fund sucking the suxors in) meaning up for e/u. Then wham.
Note the currencies got a spke, but were slow to repsond for direction of the surplus of oil inventories. It was an obvious bullish sign for the USD.

entry short = 1.4731
exit1 = 1.4716(15pip goal)
exit2 = market close or sl moved to 1.4716



Note the pivots as well as the triple bottom break on my box chart cooincided with my 5/8cross on the 1min, making my entry.

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