It was the first Monday after the country's 12th. general election. The ruling party lost several key states but managed to hang on to form the next government. I had a case of too much political news to digest.
AS I was screening for set up, I noticed that AUD/USD chart was about to reverse from it's "W" pattern with the final leg missing. I checked both the stochastics and Commodity Channel Index and they confirmed a BUY set up. It was too good to miss and I went long. True enough, I was rolling in profits from the start.
I adjusted my stop loss to a positive level, where no matter what, I would be registering profit. Then it was workout time on my tread mill. By the time I was getting ready to go to office, I was ahead by 30 pips.
The price went as high as 45 pips before retreating. It hit my stop loss but it was still profitable. A good start to a new week!
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