NOVEMBER TRADE #4 - BUY EUR/USD

Nov 17, 2009 10:10am (Manila)

Second half is out at breakeven.

Summary for this trade:

1st Half: +60 pips
2nd Hlaf: 0 pips

Total: +60 pips

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Nov 17, 2009 8:26 am (Manila)

Limit 1 was hit last night right after positive m/m retail sales data came out of the US. Limit 1 yielded +60 pips total.

Trade now risk-free with stops of second half at breakeven.

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Nov 16, 2009 2:00 pm (Manila)

BUY EUR/USD @ 1.4972 (4 lots)
Stop - 1.4812
Limit 1 - 1.5002
Limit 2 - 1.5038

I'm banking on continued dollar weakness as more optimistic news comes out of the Eurozone.

On the technicals, a bounce occurred on the daily charts.