Tuesday, September 27, 2011

EUR/USD 26 Sep 2011















The price had been trending upwards earlier since late afternoon. Nevertheless, it seem exhasted.

The tenkan-sen cut below the jikun-sen just before 2000h. It looked like a good opportunity, but that's not part of the trade plan.

Price trended lower and penetrated through the kumo cloud. However, the confirmation from chikou span had not arrived yet. Until a quarter past 2000h, the order to established a short position for the price was keyed in. However, price did not go lower. It had been ranging for quite a while, before it was triggered 25 minutes later.

The price almost penetrated above the ichimoku cloud after stop-in. The thought of exiting the trade started to hover in the mind. Hang on to the plan, and keep the trade.

Price started to trend downwards thereafter. Closed partial position after meeting the initial target. Continued to close partial position again when price trended downwards. Have shifted the stop loss level down. It got hit subsequently.

Call it a day thereafter.





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