Trades I took this week 17.10.-21.10.16

GBP vs AUD

 

Price formed a narrow range and price was sitting at support. I took quick profit on this trade as GBP is still week. Price was not able to break the log wick so I gave this a shot. In the setups for the week ahead (here) I was talking about GBP/JPY. But GBP/AUD was favourable due to the smaller stop. I did opt for a quick profit to be on a risk free state and closed the remainder after price showed signs of selling pressure.

USD vs JPY

Edit 21.10.2016

Since there was a BOJ speach today I lowered the stop on one position. I did not want to be in full position before a bankster speech. One position got stopped.

Unlike the CAD vs JPY trade, I was not really able to take profit, so one way to reduce risk was to narrow down the stop on one position.  This way I reduce my JPY exposure before a bankster speech.

Update 26.10.2016

Finally the remaining part of the trade got stopped. This trade was worth only a couple pips. My loss was less with my exit management compared to what it would have been originally.

AUD vs CAD

Price was at an interesting location and formed a signal. I took the trade based on the m5 timeframe. News kicked me out. Am glad slippage is at a minimum.

AUD vs CAD remains interesting.

CAD vs JPY

I almost got stopped out. CAD made strong moves today. Am glad my stop was high enough.

Edit 21.10.2016

I did take half profit on this trade due to BOF speach earlier friday and went to bed. I slept very well. I did reduce my exposure and was able to take some profit, while giving me the chance of possibly ride this further south. 

AUD vs NZD

I did not talk about this asset in the setups for the week ahead section for this week, because this pair did move already a lot. When I saw the setup, I took it. You can still see the original trade with the original entry and stop. Now it is time to move the stop to breakeven.

Edit 20.10.2016

There were important AUD news while I was sleeping. The employment change is negative (exp. 15,2K, act -9,8K), the emplyoment rate is positive (exp. 5,7%, act. 5,6%). Now I do not blame the news alone for the strong move down. I do incorporate fundamentals into my trading decisions, but my trades are based on technicals. I knew this pair made a stong move north and was not expecting a strong continuation this week. I did spot my chance and took the shot. Am out for BE with slippage.

Happy trading,
TT