In this post, with such clever title, I will discuss only my yesterday’s trades. “The roller coaster ride” covered GBP-CHF and EUR-NZD. Pound-Swissy has been acting jittery all week. That was precisely what I counted on yesterday, when I bought it at 1.6562. Most recent price history on hourly chart was full of sharp reversals and the level of my entry was no exception. While I think this cross will ultimately head higher, my objective was rather moderate 200 + pips. Trade unfolded almost as expected, things looked good and I decided to hold it to 1.68. Price just missed and I got out 1.6766, or 204 pips gain. Another buy order is waiting just above 1.6800, with a target of 100 pips and possible extension to 1.7000. Also, if the price drops again to 1.6550 I might consider getting in again, but no standing order. Want to watch it unfold.
As a reminder, I still have a buy order above 1.7050 with a larger objective, buy it doesn’t look like it will be filled soon.
Next pair I focused on was EUR-NZD. Couple of sell orders were placed and one of them even got filled.
Unfortunately, price movement in this cross was as sneaky and uninspiring as everywhere else, so I closed the position with few pips profit. At the moment no additional trades are planned here. Very good thing this week is almost over. Feel tired, charts are confusing, or maybe it is my thinking. I don’t see all that much happening and try to take it easy. Will review GBP-CHF trade tomorrow, if there is anything to review, and daily beast buy trades on short term charts. Shooting for easy, no stress Friday.
Mike, you must thank Heather. She wished you good luck with your trade and see what happened? I passed on it. Didn’t see whatever it was you saw. Good trade.
Thank you, Heather. Please extend you magical influance over all of my trades
No problem. Anything you touch will turn into gold from now on. Too bad I can’t do any magic for myself.
The choices of currencies to trade are very interesting. You had few good trades in GBP-CHF, with difficult conditions, yet you passed on EUR-GBP. Seems like good choice. Or now, you closed EUR-NZD and stayed away, marker moved against the trade you just had. Great timing. Do you have a crystal ball?
I’m sure with time magic will happen for you also.
No, Andy I don’t have a crystal ball. Have to tell you, it would be helpful.
“Shooting for easy, no stress Friday”- since when do you stress? Besides, you know how to purge it, don’t you? When are you heading this way? I have to plan for your visit.
Late July or early August. I will call you Sunday evening your time.