Thursday 12 July 2012

Charts


Cable

Heres an entry that I have just taken and have scaled out 1/2 of the original position to cover the stop.
I have been looking for the USD to strengthen all week but as most of you will already know it really has been quite non eventful. I was hunting a couple shorts last night on both NZD and GBP but price fell short of my entry zone only by a handful of pips. I guess thats the game and you gotta be willing to accept that you cant catch them all.
The entry I used above was quite aggressive drilling down to an M5 and the main reason I did that on this occasion is because of how much the USD has been strengthening against all pairs today I was looking for a continuation move and found this break was was good enough for me. I only risked 19 pips on the trade and it never went against me which is nice.

J

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