Turned out to be very busy day, on top some additional work piled up, so I’m just going to do some quick update of trades discussed yesterday. First EUR-CAD. Price drifted upward but failed to reach my entry point at 1.5850.
That trade is no longer valid. My other order was filled at 1.5645. Objective was 1.5550. Price missed it by a hair and I decided to close it, exit happened at 1.5584 or 61 pips gain. Turned out to be just in time.
Another potential trade mentioned yesterday was in GBP-JPY. I was looking to enter around 148.70. Well, beast sank like a rock, all the way down to 138.15 or so. Just a few minutes ago, however, I decided to test if we’ve seen daily low and went long.
Notice, this trade is taken on different platform, for reasons explained before. I simply bought at the market, 138.74 exactly. I’m risking about 140 pips and seeking a little over 300 pips. More about it tomorrow.
Mike K.
This trade in GBP-JPY looks so much different than all the other trades you show here. Do you have some time length for this trade in mid? I mean, are going to hold it untill it reaches the target?
You are right, Michelle. This trade was based on more of time of the day, than anything else. I’ll be out it before next update.
Very good exit from EUR-CAD. Congrats!
Thank you. It is always difficult if price almost touches your target and reverses. I like to get out when this happens and salvage some profits.
Mike, how this GBP-JPY trade went for you? Looking at charts it could have gone either way…..
See next post.