Trades I took this week 19.12.-23.12.16

This time of the year I normally do not take a trade. But there were very few setups that I made an exception. Below are the trades.


EUR vs GBP

Unfortunately I was not at the computer to take a picture on time when I got stopped out. My stop was a pip above the red line that got triggered. This was a range trade. My entry was exactly (to the pippet) at the top of the candle that triggered the entry. My entry was executed on the m15 timeframe.

GBP vs USD

I too the trade based on the m5 timeframe. As price did close above the high of my setup candle I decided to scale out. If it was going to stop me out I did not want to take the full loss. At the same time this gave me the chance to participate on the move if it resumed the down move, which it did.

Update 30.12.2016

The remaing part got stopped today.

The trade was good for more than 100 pips. I decided to give this pair a chance to move south. The up move was accompanied with decreasing volume. The candle that stopped me out shows weakness. If it was a bullish move, we should have a strong close. We have high volume but a weak close which shows me rather bearish pressure. Actually price is back at an interesting level. But there is no more trading for me this year. Looking forward for 2017.

Happy trading,

TT