Friday, September 4, 2009

Late US Non-Farm Payrolls Trade Setup

Short EUR/USD at 1.4308 (SL @ 1.4408)

Short GBP/USD at 1.6394 (SL @ 1.6494)

I am hoping to fetch 60 - 80 pips each from these two positions. I will carry them till Monday if necessary. If profitable, I will post my chart and analysis for this type of setup.

Update: I shorted EUR/USD and GBP/USD once more at these levels - 1.4348 and 1.6420 on Monday morning. Exited the two GBP/USD shorts at 1.6340 and 1.6330 late afternoon. Targets as envisaged. Plus I wanted to reduce risk exposure at this point since EUR/USD seemed to be well-supported. EUR/USD could move higher Tuesday morning but I am going to hold. Hope my gamble pays off.

Update 2: Oh well, a gamble lost on the EUR/USD positions as the price exploded higher at the London opening.

8 comments:

McFets said...

Why not post if it's a loss too? I would still like to read your trade analysis.

Lloyd said...

Next time. Let's see I can find a similar setup this week.

Nikolai Deville said...

Well, I have some short E/U and I think I would stop loss it if E/U reach 14634

Forex Trading Currency

Anonymous said...

I am very much interested in forex markets

http://www.forexqs.blogspot.com

Anonymous said...

Nice article, I've been trading foe years with the help of some "trade secret" FOREX software.

FOREX Software

mohamad said...

Good blog and full information.
Cheers


Forex Robots

Unknown said...

Hi,

You blog is great !!
Giving me a lot of great forex info.

So i will pay you back by intro you a great forex cash back system [if you already registered just ignore this]:

Cashbackforex

Just register then get a monthly rebate.

Anonymous said...

forex , forex analysis , you are well done , buddy...