Strangely enough, there were not very many news coming today. Not the kind that shake the financial world, at least. But frankly, it is about time to have a little slower day. The Asian session was still on steroids, so I remained busy. About the time I was posting yesterday notes, my short order in EUR-AUD was filled.

My entry was at 1.9940 and about 5 hours later I was out at 1.9440. Nice 500 pips gain, especially in such a short time. The pip value is lower now, since AUD came under pressure, but still a very good score. Speaking of pip value, JPY is high. My trades in GBP-JPY were less productive today. In spite of the “beast” moving up, and me buying the upside breakouts, I somehow managed to loss 80 pips between 3 trades. I’m not going into details, since I have better news and don’t want to crowd this post with too many charts.
In my Sunday post I indicated buying GBP-USD. Entry was at the open.

I entered at 1.7130 with the target 1.7750. I used daily charts for this set up. So far it moved faster than anticipated, maybe not so much over last 10 hours. At this moment I think I should have closed at around 1.7600, but I’ll sit on this position. I just have to make sure that if this turns sour, some profits are protected.
For tomorrow, I’ll look at GBP-JPY again, buying upside swings. Hopefully, I’ll manage to be more attentive. Also, here is something else for me to look at.

AUD-CHF is a possible buy at 0.8190 and an objective of 0.8400. We will see.
At this point, I think that moves over last couple are only corrections to these over the top runs from before, not reversals. Not yet. Problem is that last swings of previous moves were so large, the we are likely to stay within ranges established by them. This means trading ranges of hundreds, even thousands of pips. Until prices establish new Low/Highs or take out old ones old trends are not broken (technically speaking). Trading is never ending puzzle, I’ll try put couple of pieces together tomorrow.

Mike K.