Post FOMC Results-19th Mar ‘09

POSTED BY Seeni on Mar 19 under Forex, Fundamental Analysis, Trade Results

It was an expected news release with FOMC deciding to hold their rates, with almost no room to cut and there were no further surprises. However, what was surprising was that unlike earlier releases, where the dollar strengthened, it completely weakened the dollar.

Regardless, such news releases, especially with no quantifiable numbers, are difficult to trade and we simply speculate whichever way it breaks out. Therefore, our upside orders took the better side of this trade and we went long for about 140+ pips before i closed 50% of my trade. I was unsure if this move had strong momentum and i didn’t add any further orders.

I then let the order run and went to sleep. This morning, the trade has since progressed for about 327 pips profit. I might hold or close depending on how UK session shapes up to be.

FOMC Trade - 18th Mar 09

Did you take this trade also? Let me know how it went or drop me a comment below,

Btw, i won’t be taking any trades today as i am suffering from lack of sleep and i will catch you guys tomorrow.

Regards,
Seeni

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2 Comments so far
  1. Philip March 19, 2009 1:39 pm

    Hi Seeni,
    I entered the trade but overlook to check the news.
    Rather,I entered based on the Trend Maximizer method that you taught us.
    The price has just gone above the white line and that was when I entered the trade.
    I placed my stop loss at the pink line.
    Then the following morning I checked and discovered that I am in profit with 381 pips!
    Immediately I close the position for $381 profit.

    Thanks for your guidance.

    Philip

  2. Seeni March 23, 2009 5:49 am

    nice going philip, well done :)

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