Monday 7 September 2009

Weekly Trading Update - August 31 - September 04 2009

Well thankfully it's been a such more juicy hebdomad this hebdomad after two success trades on the EUR/GBP and GBP/USD pairs. There was also an possibleness to change the EUR/USD unify as substantially this hebdomad but despite the daily Supertrend indicating a bullish trend, I'm reluctant to go long at the time because I think this pair's way lower in the incoming hebdomad or so. Plus there's been a lot of oblique action on this unify fresh which is sufficiency to place me off.

Anyway backwards to my trading results for this hebdomad and the prototypal change was on the GBP/USD unify on weekday afternoon. I had been inactivity for this unify to break downwardly and it do so convincingly during digit 4-hour period. So as a result of the EMAs crossing downwardly I entered on a pull-back at exactly 1.6250.

Thankfully the toll continuing downwardly and I winking half the position for 50 points and permit the another half run, agitated my kibosh expiration downbound to break-even. Later on the toll had touched downbound to around 1.6125 so as it was getting late I touched my kibosh expiration to 1.6150 and my direct toll to 1.6050 and permit it separate overnight. Sadly the kibosh expiration was the digit that got triggered but it was ease a decorous sufficiency profit.

Incidentally the GBP/USD unify looks as if it haw be most to cross downwardly before the period is out, but I'm hoping it module hold on until incoming hebdomad because these crossovers often have such more strength behindhand them at the start of the trading week.

The another change was on the EUR/GBP unify and if you've been reading my journal this hebdomad you module undergo every most this change already because I discussed it in some detail in this journal post. As I mentioned at the time this was a low-risk high-reward trade, and thankfully the 30 saucer kibosh expiration wasn't triggered and I managed to slope a healthy acquire of 74 points.

It has actually dropped another 40 points since then but I was so tired watching this unify that I winking discover the position presently after it impact my initial toll target.

Nevertheless it's been a juicy sufficiency hebdomad on the whole.

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