News Trading Made Easy
Update:
RBA surprised the market by cutting rates by 0.25%, we entered on a sell AUD/NZD immediately after the release at around 1.2459 level. Few minutes later, Henry closed half of the position at 1.2443 and moved SL to to the entry price. AUD/NZD eventually dropped further below our TP level at 1.2420, yielding a combined total of about 28 pips of profit, with a potential of 40+ pips depending on entry price.
About Kelvin ChingI'm a professional Forex trader and I have been trading for over 7 years. I was a series 3 broker and a registered CTA with the NFA, the main regulatory agency in the United States, and I have been involved at the highest levels in commodity trading. I also have a background in Information Technology, graphics design, and programming... I'm the co-founder of CurrencyNewsTrading.com, a site dedicated to fundamental analysis and news trading.
Posted by Kelvin Ching
On October - 5 - 2012
Tags: 28 pips, 40 pips, au rate decision, Australia, below, market, profit, Rba, rba interest rate, SL, spike trade, the market, TP, TYPE
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