Monday night news trade

July 20, 2014 at 8:31 am

We traded the Australian news release at night:

AUDUSD Buy 0.9403 SL 0.9374 P1= 0.9423 P= 0.9443
AUDUSD Sell 0.9374 SL 0.9403 P1= 0.9354 P2= 0.9334

The price went up first triggering our buy orders but then it reversed hitting our stop-loss orders. The long trade resulted in a loss of -81 pips. As soon as we got out of the long trade, we opened a short position, which did not go far and was closed at break even.