Wow talk about great timing. I exited my trade 59 pips down. I could have taken profits at 70 pips (lower tail shadow below 2nd deviation BB), but I wanted keep some discipline. I instead waited for prices reverse and re-correct to my exit point. The Fed announcement almost caught me with my pants down as I was concentrating on admin issues. Luckily I had a few entry orders 2-3 ATR above my exit to take advantage of a of a short term up swing and down swing.
Strategy:
I had half a standard lot around 1 ATR above to take advantage of the up and then 1 standard lot 2-3 ATR above my last exit to take advantage of the pull back from the potential big upswing I was expecting from the announcement.
Luckily, the strategy played out somewhat OK giving an additional 6 pips to close out the day.
I guess you can say that I was trading the "pricing in" of the FOMC announcement from last night and had a trade in place to take advantage of the post announcement as well.
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Alexander Lệ
Managing Partner LLC
Analyze Capital LLC
analyzecapital@gmail.com
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