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96 7169 7K2 69 6Bi7 6700 6582 &465 6347 6230 protectiitej stpKt* xtra profit stop- ST0C"53 1 XK= 74 /!)= 74 D=8125 0=6482 H=6505 L=6444 C=:6508 Figure 8 0125. The weekly oscillator for the Swiss was still basically pointing down although somewhat flat. The daily oscillator had corrected to overbought. Prices made a lower high and a lower tow. I called in an order to sell a breakout of the low at 6443. The next day was an inside day so I left my order in place and was filled the following day as prices dropped and closed at the tow. I placed a stop at breakeven. Two days later prices dropped again, so ! moved my stop to the high of the preceding day. Next, prices made an inside day, so I moved my stop to just above the high of the inside day, where it came within one tick of being hit. I didnt like what 1 was seeing so 1 left my stop where it had been and atso placed stop where the market had last closed, t did this as "order cancels order." Either way had a profit locked in unless prices made an enormous gap up at the open. Instead ttiey moved a bit lower, but I was out of the trade on the open having made a bit more profit than f would have had prices moved up.
7169 6935...... J 6817 I 6700 65 6465 6347 6238 StOC5""3 1 /iH= 62 xD= 62 D=0Z08 0=6362 H=63?4 L=6358 C=6367 Figure 9 0208. Lets back up a minute to 0131. The Swiss Franc made a new low at 6321, Three days later there was a low at 6320, and the high that day was 6375. I connected the two lows which could be the bottom of a ledge. Three days later a high (where the vertical cursor is) was made at 6374. I now had two lows that were one tick apart and two highs that were one tick apart. I drew a line across the two highs. I now had a bona fide ledge. I placed a sell stop at 6319 and a buy stop at 6376. With two previous tight little days, it looked like something might explode. The next day the explosion came. Prices gapped up and I was filled at 6409, just below the open. My stop was below the low of the same day since I expect to be in these trades a short time. On short trades like this in the currencies, I try to scalp 20 points and then get out. There would be time to get back in later on if this was truly a trend change, i put a profit stop at 6429 and was filled and out the next day. My profit stop canceled my protective stop. When scalping, I exit more quickly than otherwise, and am willing to risk less.
2483 2426 2%5 2241 <-oiti V= 26 xD= 26 D=B12? 0=223? H=2254 1=2225 G=2232 Figure 10 My final stop for Bean Oil was at 2255 as shown by the cursor bar. Two days later, on 0131, I was stopped out. The weekly oscillator had gone flat. The daily oscillator was of no help in going long because it didnt make a true 1-2-3 breakout. The #3 point was lower than the #1 point.
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