Wednesday, January 11, 2012

Transaction (FX)

EUR/USD

Market formed high at 1.2820, and like what we mentioned at the weekly forecast, the overhead resistance is 1.2850, and if EUR/USD break above 1.2880, I will abandon short.

I shorted the market yesterday afternoon at 1.2780 but triggered a 30 pips stop loss around 10pm.
This is also the highest level last night.

After that EUR/USD trade down to 1.2740 (-70 pips).

I am looking forward to EUR/USD continue to trade down to 1.2710-20, and reverse to 1.2780 during Asian hour.

Similarly 1.2780 will be the level I hunt for short.
If there's no reversal sign on 30 minutes chart, I will wait for market to test 1.2850 resistance to hunt short.

SL 30-50 pips, TG 1.2550.

GBP/USD

I entered short on GBP/USD yesterday afternoon 1.5475, same time I placed order for EUR/USD short.
GBP/USD has been trading in small range, market neither hit SL, nor TG.

I moved SL to 1.5505 (30 pips) and TG last Friday low 1.5375 (100 pips).

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