I’ve written enough about this AUDCHF trade in recent posts however it finally came to an end on Wednesday when my Trailing Stop Loss was hit during the early afternoon.
As predicted in my last post the move below the double bottom at 8650 turned into a stop-loss hunting trap and price started to drift higher once all those long position stop-losses were triggered. My trailing stop-loss was at 0.8752 and it was finally hit Wednesday afternoon. There had been a change in momentum across all the AUD pairs from the start of the week so it was hardly a surprise. In fact the surprise was that the trade had run so long!
So in the end the trade produce +762 pips of profit which worked out at +9.9R. A nice healthy return I’m sure you’ll agree for what turned out to be about 2 minutes work per day to manage the position. If you’d like to learn more about this style of trading then check out my Traders Lifestyle Day.
I’m flat across the board now as I go into a 10 day period of travel and work commitments so I’ll just be watching the markets waiting for my next set-up.