Turns out on Friday markets became active after I had published my post. Volatility increased and once again Japanese Yen strengthened and currencies like Australian Dollar and New Zealand Dollar lost some ground. The USD also moved strongly. Some of the trades mentioned here need updating. The Yen, year after post covered EUR-NZD trade, which made new high. This means I can move stop order to the next low that just formed. It is at 2.0130.
Profitability is assured now, if only by 100 pips. Of course I think this pair will continue higher and the stop would be moved several more times before position is closed. Market will decide that, which is the intention of price action trades. As little interference from me as possible.
Commodity currencies appear to be coming under pressure, something I’ll try to discuss in one of the future posts. Meanwhile there is AUD-CHF trade alive and one can always look for a Sunday evening set up. Should be back home in the afternoon and become active trading in the evening.
Mike K.
Hi.
What you refer to as Sunday evening set up, I think it happened today. Did have a trade? If so, could you post it so I can understand it better? Thanks!
I took one trade, in GBP-JPY. I’ll try to post it in next update.
[...] am also adjusting stop for the price action, EUR-NZD trade. It was moved to 2.0320 level, to guarantee almost 300 pips for the trade. In principle I should [...]