Tuesday came and went with a bang! Dollar got much stronger on very nice, directional moves. And so did JPY. Personally, I’m surprised at the strength of Yen. After all, I keep playing upside with GBP-JPY, with relatively good results. Not today however, the beast fell like a rock, daily range was 880 pips. Now, that’s some move. With this in perspective, I did’t do too bad. Loss of 100 pips on one trade and a gain of 80 pips on the second one, for a total of 20 pips loss for a day. Being persistent SOB, more buys tomorrow on 5M charts.
Pound, however, takes pounding. This is not too bad for my other trade in GBP-NZD.

I estimated a potential for this trade to be about 1000 pips, but most likely it will be closed sooner. It depends on how long it takes and if I find some other trade with, in my opinion, high probability. For now this stands.
Another trade was entered short while ago in AUD-CHF.

I followed it last week, but my entry point was not met, as the price moved away. I just entered it at 0.7850 with only a 100 pips objective. If this happens, 0.8200 or so is the next level to watch, for a possible trade using 4H charts. But that is a little remote as of right now.

Mike K.