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    TP TradeofWeekTemplate

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    thetradingpitt
    The trader opened a short position on the AUD/USD currency pair based on technical indicators showing bearish momentum, including the 10-period simple moving average crossing below the 5-period SMA and price stalling at the first resistance level. The position was entered at 1.0475 and closed at the limit of 1.033 when price moved lower as anticipated. In hindsight, the trader notes it would have been better to close before an upcoming meeting that could impact volatility.

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    TP TradeofWeekTemplate

    Uploaded by

    thetradingpitt
    11 views2 pages
    The trader opened a short position on the AUD/USD currency pair based on technical indicators showing bearish momentum, including the 10-period simple moving average crossing below the 5-period SMA and price stalling at the first resistance level. The position was entered at 1.0475 and closed at the limit of 1.033 when price moved lower as anticipated. In hindsight, the trader notes it would have been better to close before an upcoming meeting that could impact volatility.

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    The trader opened a short position on the AUD/USD currency pair based on technical indicators showing bearish momentum, including the 10-period simple moving average crossing below the 5-period SMA and price stalling at the first resistance level. The position was entered at 1.0475 and closed at the limit of 1.033 when price moved lower as anticipated. In hindsight, the trader notes it would have been better to close before an upcoming meeting that could impact volatility.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as doc, pdf, or txt
    11 views2 pages

    TP TradeofWeekTemplate

    Uploaded by

    thetradingpitt
    The trader opened a short position on the AUD/USD currency pair based on technical indicators showing bearish momentum, including the 10-period simple moving average crossing below the 5-period SMA and price stalling at the first resistance level. The position was entered at 1.0475 and closed at the limit of 1.033 when price moved lower as anticipated. In hindsight, the trader notes it would have been better to close before an upcoming meeting that could impact volatility.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
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    Download as doc, pdf, or txt
    of 2

    Trade of the Week

    Made By: Jon Hewson Date Opened: 10/24/2011 Date Closed: 10/26/2011

    The Asset Being Traded


    AUD/USD

    The Setup

    Ausie Dollar is in for a crazy week. Meeting in brussels will be a market mover Pair opens above weekly PP (bullish sentiment) Price reaches R1, SMA(10) crosses SMA(5)

    The Execution

    Entered short at 1.0475 after SMA crossover occured R1 held and price moved down, eventually hitting limit at 1.033

    Where its Headed

    Eventually Sellers will enter back into the market after a retracement phase Could see price move down to weekly S2 (1.0154) by next week

    Ways to Improve

    Should have closed position before Euro summit rather than just trusting the technical analysis

    Got lucky on limit being hit (may not happen again)

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