Tuesday, June 5, 2012

Update $AUDUSD: Out +10 pips

I woke up this morning thinking I was still in the AUDUSD long trade, but found out my breakeven stop was triggered last night.  However, it was interesting to see that since my stop was placed at the exact low of a sharp move, I ended up getting a positive +8 pip slippage, resulting in a +10 pip gain.

This trade eventually went on to go about +87 pips from entry (~3.3R), hitting the first target of .9800.  So the takeaway is that when taking a counter-trend trade based on the higher timeframe (daily chart in this case), exit (or perhaps large scale out) at the first clear target area (.9800 as mentioned earlier).
AUDUSD 15 min

No comments: