Friday, June 22, 2012

6.22.2012 Fiber Trade Review

Shorted fiber at 2580 and out at 2530.  Eliminated yesterday's loss.  Still ended down for the week but only about 0.75%.

Fiber trades up in to a HTF resistance.


Great example of SMT as fiber makes a higher high but cable refuses to follow.


How it looks on a line chart of closing prices.



USDx divergence.


There was some Type I stochastic divergence on the one hour and 15 minute charts.

Took profit at 30 pips and tried to reach for the 20 level to sweep below daily low.  On this feed it got to 214 level so it probably only got down to 22 with IB.  Ended up tightening stop during 1500GMT and finally closing everything out at 2530.  


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