Last week's AudUsd and EurUsd corrections hurt our account but not as much as having an expert advisor named Autopipbot. About 60% of our profit was lost in three consecutive trades by this EA. Needless to say, it is no longer in use. The rest was given back in the correction. Fortunately, we had been taking profits throughout the last two weeks, so we really did not give back all our profit, just most of it. Still, we made a little profit where many people got burnt.
Between May 3 - 5, the AudUsd gave back some 462 pips from its highest point that week. This pair is still trading above its 100 EMA. Stochastics are such that if the AudUsd closes today anywhere near its current level, we may have the making of a Lindencourt daily trade. If so, I will be going long at the open of Tuesday's market - that would be today at 5:00 p.m.
The EurUsd gave back roughly 686 pips in three days. Although it is up some 70+ pips since then, I believe there's some downside left in that pair and I in fact shorted it last night at about 6:00 p.m. based on Parabolic SAR and SuperTrend indicators, as well as Greece's credit rating being cut to B from BB-. I am not 100% convinced on this trade, as the SAR can produce false signals if the pair starts ranging instead of trending, so we bought about 4 micro lots with a 150 pip stop loss.
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