Thursday, July 7, 2011

EUR/USD target hit

That was pip perfect exit on the EUR/USD trade. My exit was hit at 5:35 AM @ 1.4225

The trade closed with 265 pips profit.





It was close though. The market went through my exit by anther 5 pip, reached the 23.6% fib level, and then bounced back by 150 pips. Had I missed my exit, I would have been sitting here mad. But thankfully, the trade closed with a profit.






As for the SPY PUT trade, it's still open and sitting at a loss right now. ES is up sharply this morning. I am going wait for the first pull back to unload these PUTS. They are close in the money, so it shouldn't be a big deal. I am pretty sure I can get out at break-even. ES has gone up by 8% in an almost a straight line in the last 2 weeks without a break. We are bound to get a pull-back.






Open trades:
SPY 134 JUL PUT @ 1.48

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