AUDUSD 09/09/10

Entry Sell: 0.92212
T/Profit: N/A
Stop Loss: 0.92412
Trailing Stop: N/A

Potential Loss: 20 Pips
Potential Profit: N/A


Result: 
Stopped at: 0.92412
Loss: 20 Pips


Thoughts:
9/11/10- I moved the pending entry from 0.92487 to 0.92212 because I was impatient (again). I thought this would be different since it is near the all time high and it is going to be double top. However, the result from the unemployment has pushed AUD to the roof. It's ok. I still another opportunity to short it. I guessed it correctly that there is a chance that it will go up further - and thus the stop loss of 20 pips. How do I derive that? I looked at the overall trend (going up) and think fundamentally of the Australian Economy. Plus, my experience a month ago, when I got burned due to AUDUSD.

At the moment, the price is at 0.92713. I am not willing to short it since it has broken the resistance line. It seemed it will go up further. I have also set up another short setup at around 0.9400 (just in case).