Monday, 8 June 2015

FX Weekly Review: 06-07-2015

So the idea with this post is to go through the analysis posted last week on ideas generated and see how I performed and executed the plans throughout the week.

Brokerage: US$60.
+AU$2439.
-CAD387.
-YEN48,700.
-US$53.

EURUSD: Did exactly as expected! However I really struggled to execute on the plan because of the sudden movement of the break above 1.10. I didn't take the trade for this reason and for the reason that there was no obvious place to place the stop-loss. For the future, I think it may be worthwhile having a stop order in the system with smaller size and a 30 pip stop-loss (random, not assigned to level).
The same goes for EURJPY. The size of the moves would have each resulted in some really solid trades, even with reduced size.





































GBP/JPY: I narrowly missed the short which came off a little bit. By no means a huge trade but I would have easily covered risk and then some if met. Tried the breakout over 190.00 but was narrowly stopped on a news wick. Really annoying breakout to try and get... But if you look at the daily that makes sense because of how overextended it already is.


















USD/CAD: This worked out but it was difficult, hence the loss on the currency pair. 1.2550-1.2560 was the big level to watch but I used the hold lower around 1.2510-1.2520 to get short. This part of the trade was great! I then shorted the pop back to 1.2510 which worked out the first time but didn't work out the second time.
I think the lesson here is something that can go in the anti-playbook. The level created by the hold lower/higher within a trend is a minor level and the fact that it's being retested after a decent move lower is a bad sign and indicates a probability of testing the major level again.


















GBP/AUD: Easily the trade of the week, including stock trades! Used 2.0000 as the spot to get short and applied size on the trade. It went immediately in my favour and I covered risk, and with about 65 pips in the money I held through news with sent it lower. Was holding a bit for around 193 or something so was stopped on that, but overall great.
The anti-playbook from USD.CAD appears here as well. On the day when GBP/AUD rallied about 300 pips I was stopped out roughly at the high, which is exactly where I should have been adding because 2.0050 was the major level not 2.0000. Good lesson reoccurring.

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