Trading year has come to a close for me and it was a very nice finish. I was planning to write a little review of 2008, but the day turned out to be so eventful, that no time for reflection is left. It will have to wait till later. For now just a look at today’s trades. Sterling is growing some spine after a long and steep decline, which helped my EUR-GBP trades. They were outlined in previous post.

After a good trade yesterday, I was waiting for a development of another bearish candle on 4H charts. I’m using 1H here to show more detail. Shortly after my last update the candle formed and I entered a short at market- 0.9745. Objective was 100 pips. After a slow start price began to move after European open and my target was reached. Another sell order was waiting just under previous low, at 0.9615. It was triggered just after the first trade came to a conclusion. At this point I pretty much expected to sit on it for a couple of days, but, rather to my surprise, price just kept on falling and hit my objective of 0.9515. Total of 200 pips, in two trades, very good for one day of trading EUR-GBP. I will take a look at what maybe next for this pair in a later post.
Swissy also “played ball” and my USD-CHF trade worked as intended, if barely.

Nice breakout with entry at 1.0640 and target of 1.0740. On this platform the highest recorded bid was 1.0741, so my objective was reached with 1 pip to spare. One more possible trade in CHF was mentioned in last post, a buy in AUD-CHF. I didn’t include a chart because the set up was almost identical to this one. And so was the result.

The difference is that here price really moved, way above the 100 pips target. This was very nice finish to a good year and I’m glad it came to an end on a positive note. Now I can get ready for the little party friend of mine is throwing tonight.
I’d like to wish everybody many pips, fantastic trading and all the best in 2009. Happy New Year!

Mike K.