During the London session, my earlier entry during the day at 1.4124 hit my stop loss that is 43 pips away from my entry. My initial target was over 100 pips but market only make it to over 70 pips then gradually making some reversal over a period before it hit my stop loss just before 5:00 pm (Brunei).
Right now, I am waiting for the next wave that may be generated by the US Pending Home Sales. Price breaking 1.4050's level will make some opportunity for my next trade, providing there will be some good retracement towards 38.2% level. As of this writing the market is coming back to the 1.4130's level after the US number posting a lower than expected number of -3.2% vs expected -1.5%.
I will see how the market develops after yesterday GSE bailout on the troubled mortage firms. Until then happy trading guys ;)
Recommended & Trusted Broker
Trading account from as low as $100; Low spreads starting from 1.8 pips; 24 Hrs Multilingual Live Customer Support; Financial news from industry leaders; Flexible funding options; Plus more benefits
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment