Monday, August 29, 2011

EURUSD 29 Aug 2011

First day of the week.

Started well with long position when the price traded above the ichimoku kumo cloud from below. This was furthered confirmed by tenkan-sen cutting the kijun-sen, and chikou-sen cutting above kumo cloud from below.

Partial position was sold off as price traded near the top of kumo cloud. The remaining position was closed out and the price penetrated into the kumo cloud.

A short position was initiated @ 1.4513. However it was not triggered.

A short (& smaller) position was established @ 1.4522. Though the price traded below the ichimoku kumo cloud, this was NOT confirmed by tenkan-sen and kijun-sen, chikou-sen had also not traded below the kumo cloud. This position was closed out with a loss.

Closed the day with profit.

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