Trade Update - EUR/AUD Short

The Trade: EUR/AUD Short


Reason/Setup:
The main reason for this trade is the OzFX setup on daily chart. The price action showed a nice move down, and the AC and AO indicators had turned red. I also got the sell signal from the A-MACD and Elite setups on daily charts.

Trade Details:

• Date Entered: April 17 2008, 5:30pm
• Entry: 1.6958
• Lots: 5
• Stop Loss: 1.7008
  
• Target: 1.6938 (TP was initially 100 pips. I changed this later so I can close the trade sooner_
  

• Date Closed: April 18 2008, 11:20am
  
• Result: Pair hit modified target point.
• Total Pips: +100
• Profit/Loss: $93.22
• Rating: 5

Comments:
This was a well executed trade. Too bad I didn't want to hold any open positions over the weekend. Especially considering the week I had, I just wanted to close all trades and forget about it.

But it was a good entry. The entry was perfect even on the Elite and A-MACD setups on daily charts. And finally, this trade was also recommended in the OzFX forum for the day.