This was the third and position initiated on 19 Oct 2011 for USDSGD. It was taken when the price just traded into the cloud.
Fundamentally, tenkan-sen had already cut below the jikun-sen, chikou-sen was about to cut jikun-sen.
The price on the day on entry went against the short position. Held on to the trade.
A stop in order was placed earlier just below the cloud, and with chikou-span likely to cut below jikun-sen, it was an ideal set up.
The price moved lower thereafter. Again, that was due to the news from EU.
Holding on...
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