Euro Stopped Out
Unfortunately i got stopped out on my Euro trade. I guess the upward trend is still in motion. But i'm still not very convinced with the Euro strengthening and i would like to enter another short trade on the Euro. This time, i'll wait for a confirmation on the technicals such as a moving average crossover, before entering a short trade. (trade URL: EUR trade )
I didn't really enter into any spot trades today, was a little busy at work with other stuff, but i did enter into 2 option trades.
Aussie Strangle Option
I noticed with the Aussie that it's been in a range for the past few weeks. A strong resistance seems to be holding at 1.0199 and a strong support at 0.9957. I decided to do a 20-day strangle option, where i sold an AUD/USD call at 1.0200 and an AUD/USD put at 0.9900. The premium i received was 0.6% which isn't too bad.
Lets see how these trades work out!
Unfortunately i got stopped out on my Euro trade. I guess the upward trend is still in motion. But i'm still not very convinced with the Euro strengthening and i would like to enter another short trade on the Euro. This time, i'll wait for a confirmation on the technicals such as a moving average crossover, before entering a short trade. (trade URL: EUR trade )
I didn't really enter into any spot trades today, was a little busy at work with other stuff, but i did enter into 2 option trades.
Aussie Strangle Option
I noticed with the Aussie that it's been in a range for the past few weeks. A strong resistance seems to be holding at 1.0199 and a strong support at 0.9957. I decided to do a 20-day strangle option, where i sold an AUD/USD call at 1.0200 and an AUD/USD put at 0.9900. The premium i received was 0.6% which isn't too bad.
Cable Strangle Option
I also entered into a GBP/USD option trade where i again sold a strangle. Looking at the 4-hour chart we can see that the cable too has been in a bit of a range as well where 1.6297 has held up as a resistance and 1.5346 has held up as a support. I sold a GBP/USD call at 1.6400 and a GBP/USD put at 1.5300. I managed to pick up 0.5% in premium for a tenor of 1 month.Lets see how these trades work out!
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