I took two trades on this GBP/AUD today. Price was at a level of interest.
I closed the first trade manually as price was going against me. Price did indeed go much further. The second trade was taken at a strong support level. I moved stop fast to Breakeven and eventually got stopped with slippage.
Both trades were executed on the m5 timeframe. If I take a trade on the m5 timeframe, I am quick with moving my stops and quick closing the trade if price does not move in my desired direction. This is one of my forms of Money Management.
Price did violate the lows and is approaching 1,60. My bias is not off the tabel yet. But I will be more cautious with my trades. I did have a pending order waiting on GBP vs CAD. I never got triggered. The pending order is off, as GBP vs CAD also moved lower simmilar to this asset.
CAD vs JPY
I was talking about this pair earlier today (here). There were some signs of a possible reversal.
I was planning to take two seperate positions. One position was supposed to be taken on the small pullback. I missed the opportunity and price triggered my pending order below the candle confirming the Hanging Man.
Update 12.10.16
Update 12.10.16
I got stopped at BE minus slippage.
EUR vs AUD
This trade was taken at the night of 13.10.16.
As mentioned in Setups for the week (here) I was eyeing this level. I did like how price was honouring the support level. So I took the trade. The risk was less than 40 Pips. As you can see, I did get stopped for BE with a small slippage.
US Oil
I did also talk about US Oil in the setups for the week ahead (here). There was not really a weekly signal, but the level was interesting. I need a weekly close to set my bias for the week.
This trade was taken without the bias. Price is at an interesting level. And there was a good setup for me to utilize. So I took the trade.
Edit 19.10.16:
EUR vs AUD
This trade was taken at the night of 13.10.16.
As mentioned in Setups for the week (here) I was eyeing this level. I did like how price was honouring the support level. So I took the trade. The risk was less than 40 Pips. As you can see, I did get stopped for BE with a small slippage.
US Oil
I did also talk about US Oil in the setups for the week ahead (here). There was not really a weekly signal, but the level was interesting. I need a weekly close to set my bias for the week.
This trade was taken without the bias. Price is at an interesting level. And there was a good setup for me to utilize. So I took the trade.
I did spot a chance for an early entry, so I took it. Since it is Friday I decided to quickly take profit at 1r. The trend is still bullish. That is why I opt to trade this rather risk averse. Ideally this asset does break and close below the blue marked circle. That would be a good signal for the following week.
Edit 19.10.16:
Price was not able to break the highlighted blue circle. I did get stopped for BE on the remainder. My eyes are now on the weekly close.
Happy trading,
TT
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