Tuesday, February 19, 2008

Shorty Swing my way


The arrow is where I added to my short position (by the way, going "short" means 'I bet its going down').
So it breaks down through support on the 15th which should now act as resistance; It comes up to horizontal resistence line; MACD looks to be rolling over and down; I get a confirming candlestick pattern ("Shooting Star").

So I added to my current short position...So, right now I'm short 2 mini contracts of the CAD/CHF with a cost basis of 1.0948. My stop has been placed at break even. So if my trade turns against me, then I'll be out at ZERO loss. I have a gain in the position but I don't want to prematurely get out.

Let your winners run and take your losers out!

1 comment:

JGERALDJ said...

Ummmm....yeah....give another week....i'm doing DVD's at lunch. I'm going to dedicate my lunches to learning and catching up. So look out. Because the only posted pictures you will see from me, are from stock graphs that include exponential curves(GOING UP HOPEFULLY)