Actually I closed this trade yesterday for a 20 pip loss. As I mentioned, the signal wasn't clean and I was a bit wary of trading it. As I previously mentioned, the stochastics had crossed but it hadn't cross near the top for a short signal but near the 60 level. My short at 10075 got stopped out at 10095 for a -20 pip loss.
I also put in a short trade on the CHFJPY with a trailing 50 point stop loss. The market hit a double bottom at 100.18 and has bounced up to hit the 61.8% Fibonacci level. The stochastics have also crossed towards the downside. All looks good you may say.. however, I am not 100% confident of this trade for the following reasons: The stochastics crossed at the 60 level. A clean cross should happen either above 80 and move downwards or below 20 and move upwards Very strong upwards momentum
I missed a hell of a lot of the action today.. the market had already fallen loads and there were just a mere few scraps to be traded with. Today was a short day so I was looking for a chance to short the S&P and the opportunity came when the market bounced off the Fibonacci level in the 5 minutes. This also coincided with the stochastics cross and I went short. I didn't get the best price and also with the spreadbetting spreads my price wasn't great. However, I rode it down to around 138
