Thursday, March 4, 2010

Currency Trade Update: 3.04.10

After 3 poor trading days in a row I made an excellent trade from yesterday into today.

Green arrows indicate my trade: Shorted at the top green arrow and closed out to take profits at the bottom green arrow. Yesterday the EUR traded out of my forecasted range as prices hit 1.37. I expected a pullback and entered short top of the BB's. My patience paid off.

Again the Daily chart is coming to a squeeze so price direction will be determined along with trend confirmation of a continued down trend or a prolonged whipsaw to the upside or a bottoming and a trend reversal. Prices seem to be failing at 50 RSI and strong new 1.37 resistance of a lower high has formed. Lots of evidence of a continued down trend. Though I will wait until Friday to re-evaluate of how i want to trade going forward.

Today my P/L is well over 3,000+ since I am also short the GBP and long the JPY from last night. Will be monitoring closely the movements and reporting when I can.

Though I will have to ramp up the academics as they have taken a beating. Hermit mode time.


Alexander LĂȘ
Managing Partner
Analyze Capital LLC

1 comment:

  1. Woot Woot? I know that's yours but it deserves to be brought out here. This is fantastic news!


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