Friday, April 20, 2007

Reactive or Anticipative?

Salam,
I sold euro just now, at 1.3632, and my TP is just 20 pips, we'll see what happen. My reason is presented in the above chart.
Euro' tumbling recently to 1.3565 was much due to liquidation of euro/jpy. Despite this, euro still intent on taking the pair for a test of 2004 high 1.3667. I think we should prepare for this next week, but the possibility that to happen today (friday) cannot be ruled out. The euro could very well chop higher but evidence strongly suggest that the next move of consequence is down.
Because I'm more as a 'reactive' rather than 'anticipative' trader, I will only buy this pair at support level 1.3555-70, and sell whenever I see the price spike but the MACD histogram fail to confirm (as what did happen just now).
But you know, it is a reactive approach that has been proved to be making profits, rather than
anticipative approach.
And by the way, at this end of this writing, I already booked my profits 20 pips. Syukran.

1 comment:

Anonymous said...

congrats Anne,
so you suggest that euro will test a new support at least at 1.3555?