Wednesday 28th October 2009

On Wednesday, there was a strong bias in the downward direction despite the fact that we had positive divergence on the charts. We went Short when price breached the 1.4786 Support line convincingly around 12:15pm. Entry was a 1.4779 and the first position was closed at 1.4739 around 5:30pm for a profit of 40pips. The second position was closed the next morning at 1.4745 for a profit of 34pips.