Slow start to Friday, Markets riled by the Loonie
I had a total of 5 trades today resulting in a 46 pip profit. It started fairly slow, but I perservered on my bearish outlook on eurusd, with mixed spot feeling on gbpusd. I also traded audcad (instead of usdcad because I’m not as familiar with the charts and knowing australia trading is asleep so there is little economic resistance from within that country)
My trades were as follows:
eur/usd short 1.269 1.2705 1.2725 1.267 09/07/2010 08:45:00 09:15:00 confirmed 5/8 cross with push through 1.2720 barrier failed l -0.0015
gbp/usd long 1.5179 1.5184 1.5129 1.52 09/07/2010 08:45:00 11:00:00 retrace done on uptrend – 2nd chance to enter p 0.0005
eur/usd short 1.2683 1.267 1.2677 1.2668 09/07/2010 09:48:00 11:10:00 confirmed macd crosses with 5/8 cross p 0.0013
gbp/usd short 1.5176 1.5159 1.522 1.517 09/07/2010 11:33:00 12:40:00 confirmed macd crosses with 5/8 cross p 0.0017
aud/cad short 0.9072 0.9031 0.904 0.9055 09/07/2010 12:23:00 15:01:00 post news with good CA unemployment two solid red candles on the 15m chart with macd trends set below 0 0.0041
You’ll see that I shifted my bias relatively quickly on GBPUSD from long to short. I changed this after the economic data for GBP caused some jitters. The stops were obviously premature in hindsight though I preserved my capital and still had a profitable day. I closed out of my audcad trade because I’m on the wrong side of a rollover and I’m uncertain on how the asian markets will react to the economic data over the weekend and early Monday.
