The price of this downtrending pair went above the weekly pivot but failed to advance higher and crossed back below the pivot. I waited for one complete candle stick to form below the pivot and entered on the next candle.
The stock market turned bearish during the later part of the day and USD rallied, resulting a big jump in this pair.
Shorted 1 mini contract at 1.202 on 22 Jun 10 (4:15pm GMT)
Bought 1 mini contract at 1.261 on 22 Jun 10 (6:27pm GMT)
Loss = -51pips
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- USDCHF (Long) – closed on 24 Feb 10
- EURUSD (Short) – closed on 2 Mar 10
- USDCAD (short) – closed on 8 Dec 09
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