20 January 2011

EUR/USD : Cut Loss on Hedge

  • Daily+Weekly charts looking positive, especially the former. (Equivalent of the negative USDX earlier today).
  • Cut loss at 1.3482. Painful.
  • [Also cut GBP/USD for a tiny loss].
  • Completely naked Risk On now. Keeping things simple.
  • [Also possible reversals seen in Corn+Soybeans. Reduced risk (taken profits) there too].
  • Just can't seem to get the year going. Back to down again.
  • This EUR hedge was a really bad idea to begin with. Worse than completely useless (4% Hedge P&L overwhelming 20% Risk On). Should have cut loss earlier although once in, technical cut loss signal only generated above 1.3433.

2 comments:

Taichiseal said...

Few hours later .. EUR/USD is 50 pips lower from where I cut loss .. and Risk On trades are lower as well .. sigh ..

Financial Journalist said...

This EURUSD is a surprise to me as well. Nevermind you can sell at higher level.

I had placed order to sell EURAUD at 1.3800.