moneyTell you what, spring is finally in the air! Not strictly speaking what I want but good start regardless. Temperatures steady in low sixties and flowers are blooming. I know, low 60 who cares. It’s an improvement and a welcome one. Hopefully pretty soon I can start spending some time outside, take the laptop on the deck and trade from there…
Speaking of trading, nothing really exciting has happened last week. I focused on the usual suspects that I had an eye for over last few weeks, that is AUD, NZD and GBP. Few good trades resulted, nothing to fire cannons over, but enough for content. Just chipping away or “steady as she goes”.
Here is the AUD-USD trade from 1H charts. Decent 66 pips.
From about the same time here is NZD-USD for a take of 56 pips
and GBP-USD for 99 pips.
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For know I’m still bullish USD against AUD, NZD and GBP. Most likely 1H charts for entries perhaps 1-2 trades per each next week. There is a kink to my line of thinking, however. There always is one. The FED meeting on Wednesday. I don’t want to have any USD positions opened during that news release, so if I have any I’ll likely close them before announcement.
Including this one.
This is a little longer term AUD-USD chart, the one from last post. I’m in this trade and it’s about break even now. Operating at these time frames one should give the trade enough time to “work itself out”, perhaps even 2-3 weeks. With the FED decision looming and USD responding poorly to any numbers in US (like on Friday) I’ll likely cut this loose if moves against me 30-40 pips, with intention to reenter later using 1H charts. Decisions, decisions. Always something, but such is trading. That’s why auto trading is so appealing to many and why we auto trade about 40% of our capital.
Enough of shop talk, it’s weekend and time for some fun. Mexican restaurants are places to go tonight!
Husar.
