FOMC is fixated on inflation and jobs creation and early this evening was the US; Retail Sales and CPI, which I felt would be a highly volatile event data.
So at about 8:14pm, I decided to put on my straddle on the EURUSD and USDJPY with the following details: –
EURUSD
Stop if Offered at 1.1170, Spot at 1.1202, Stop if Bid at 1.1230
USDJPY
Stop if Offered 109.90, Spot at 110.28, Stop if Bid at 110.58
SLs all established at 30bps away.
As it turned out CPI and Retail Sales bombed!
Both my EURUSD and USDJPY were triggered.
I followed the market till about 11pm and decided to square off my positions as follows: –
EURUSD squared at 1.1276
USDJPY squared at 108.97
Trading profit; USDJPY = 0.93yen and EURUSD = 46bps
Not bad, if I may say so myself.
The Panthenon Investment Group 