Saturday, June 21, 2014

Update on USDHKD carry trade

Looks like speculators attacked 7.75000 yesterday. On the daily chart, we can see a pinbar and rejection off 7.75000 as the HK central bank intervened to defend that level.

If we zoom in to the 15M chart, we can see where speculators dumped a whole lot of USDHKD within a tiny time frame. I checked the data feed on two different brokers (IC Markets and Pepperstone) and both showed the same price action.

With price hovering close to 7.75000, I used the opportunity to double my carry trade position. My risk is about 5%-6% of my equity.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.