A new day
After yesterday’s disaster in the market, I come to today thankful that it’s a new day, and I can start with a clean slate.
I’m starting the morning down <55> for the week, and <153> for the month. Finishing the day with a breakeven week would be a big win.
The trade plan is showing most everything in a range, the exceptions being the USDJPY and the CADJPY, which are in strong moves long. I have pending orders for range breaks on the all the ranges, and on YL pullbacks for the USDJPY and CADJPY. Let’s see what the market gives.
Took breakout trades on USDCAD long and NZDUSD short, but there was no follow through, and both candles closed inside the range, for losses of <6.2> and <6.7>, respectively.
Also took YL trades on CADJPY and AUDJPY, both long. And I missed at YL entry on USDJPY because of fear that it was continuing downward.
I decided to punch out of the CADJPY for <9.7> because the USDCAD was moving higher, indicating the CAD was possibly moving lower, and the USDJPY was moving lower, indicating the yen crosses were under pressure. It was getting near the stop, and I felt it likely that it would hit it, so I saved myself a few pips. Down <22.6>, and holding AUDJPY.
The USDCAD continued to move up, and I took a reentry trade at the next level up (1.2800).
Entered AUDUSD short on a range break. Shortly thereafter, the AUDJPY stopped out for <12.0>. Now down <34.6>, holding AUDUSD and USDCAD. Move stop on the USDCAD to lock in a 1:1 (10 pips) after Kim announced on twitter that that was how she was managing the same trade.
AUDUSD closed the candle just outside the range, so the trade is still alive at 9:00.
USDCAD pulled back and hit my protective stop for +10.1. Now down <24.5>, and still holding AUDUSD.
Punched out of AUDUSD after it closed the candle inside the range (actually late closing it – I forgot about it until Kim mentioned it. Lost an extra few pips as a result.) Closed for <8.6>.
Finally got a YL entry on USDJPY . See if it will run now. Currently down <33.1>.
USDJPY is up 10 (1:1). I have moved my stop to lock in BE. Trailing stop gradually moved that up, and it was hit for a gain of +2.1. So I am now down <31.0>. We are at London close. I just don’t see any potential trades coming up, POSSIBLY with the exception of USDCAD. It’s flirting with another run at the HOD, but I don’t think it’s going to make it any time soon, and I’m not sure I would trust it if it did. At the moment, the only thing keeping me from calling it a day is that Kim is still working, and I’m not sure that’s a good enough reason.
Summary: 7 trades, 2 wins, 5 losses. Down <31.0> (-1.57%). Down <86.3> (-3.55%) for the week.