Tuesday, August 31, 2010

Trade Update

I entered a leveraged long position in the morning at 1041 and I sold half position at 1050. So now I am holding the other half with a stop at break even (1041) and my FXI position taken as an hedge at 1070. I am planning to short again when the count becomes clear. If today's low holds, this would raise the probabilities that we are indeed in a reversal so shorting without being certain of the wave count would not be a good idea.

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