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Busch: Money In Motion Trade Update

Wednesday, 20 Apr 2011 | 10:47 AM ET
Norwegian flag
Danita Delimont | Gallo Images | Getty Images
Norwegian flag

On last Friday's Money In Motion show, I recommended a trade - selling the U.S. dollar against the Norwegian krone. Here's an update.

Over the last six months, the U.S. dollar has gone down 8500 points or 13.6% against the Norwegian krone. On last Friday's show I recommended this trade:

Sell Usd/Buy Nok

Medium term trade

Entry 5.5350

S/L at 5.6425

T/P at 5.0500

Risk 1070

Reward 4850

About 5:1 return

Unfortunately, we missed the entry on this as the high was only 5.5170 on Friday and basically went straight down after the S&P downgrade. Now, we’re at 5.36. If you didn’t get in, then cancel this trade. Remember, the levels aren’t perfect and you can always adjust to get into and out of the trades. Just keep your Risk/Reward management consistent.

OPTION -- List of Multi Currencies

CURRENCY FUTURES:

Andrew B. BuschDirector, Global Currency and Public Policy Strategist at BMO Capital Markets, a recognized expert on the world financial markets and how these markets are impacted by political events, and a contributor to CNBC's Money in Motion Currency Trading.You can comment on his piece and reach him hereand you can follow him on Twitter at http://twitter.com/abusch .

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