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Daily Archives: March 13th, 2014

Trade: Short, Stop if Bid EURUSD at 1.3920 and SL at 1.3950 yesterday midnight

Last night at about the same time I placed the AUDUSD order, I also placed a short EURUSD stop if bid order at 1.3920 and SL at 1.3950.

As it turned out this morning, the level was not reached, so I decided to take out the order.

Now during NY trading session, the EURUSD has strengthened unexpectedly despite stronger US data.

I am so glad I took out the order this morning.

Trade: Long, Stop if Offered AUDUSD at 0.9000 and SL at 0.8970 yesterday at midnight

Last night, I felt that there was a high probability that the RBNZ will hike rates this morning and if they did, the AUD would strengthened in unison.

So at about midnight, when the AUDUSD spot was at 0.8972, I placed a stop if offered spot order at 0.9000, good till 9am Singapore time the following day.

As it happened, RBNZ hiked rates from 2.50% to 2.75% at 4am Singapore time, my order was triggered early this morning at about 7:55am Singapore time.

I have been holding this spot position all day, wondering whether I should sell a AUD call to set a take profit level since I am already in the money.

I decided a few moments ago to square off the position at 0.9094 for a trading profit of 94 bps.