My only open order at the moment.
Sold into strength on Friday night.
Trade taken on the basis that supply was expected to come in around 3700 to 3725 and respect the downtrend. I will get nervous at 3733, and bail at 3755. Euro Index is currently showing bears in control which is comforting, so I hope to catch a small ride down over the early part of next week.
Currently, the trade then moved about +70 or 80 before sitting at weekly close on +30.
UPDATE: Monday 22 Nov
Order was tapped out for -55 pips around lunchtime, resulting in a -0.27% loss. News of Irish bailout late last night has meant the market has been in a risk-on mode this morning, contrary to my expectations. Opening gap of 60 pips in early interbank trade, followed by Nikkei opening at 1.1%, so the makings of bullish strength was perceivable throughout the morning.
There was an early opportunity to enter long on Gold, E/J, A/J & A/U @ 9:30/10am this morning, but given that it was a Monday and I was unsure about the market's reaction to the weekend news, I let it through to the keeper.
Alas, all of them are in positive territory by about +50 on average at the moment. Another unfortunate example of why you should act decisively in taking signals as and when they appear.
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