Wednesday 12th December

by 13:23 0 comments
I said at the end of my last post that I had two PnF trades going. A short on USD/CHF and a long on GBP/USD. They took a while to unfold but once FOMC kicked in they moved along nicely.

The USD/CHF entry was a triple bottom break out with an entry at 0.9315, I was targeting a support area at the last bottom at 0.9260. This was hit during the usual FOMC madness. Technically speaking I should probably still be in the trade but I felt this was a good area to get out of the trade in the likelihood of a bounce occurring.

GBP/USD was as slow as always, but moved up nicely during FOMC as well. I was targeting a previous resistance area to the left that the market had reacted to on three occasions in the past. I put my target a couple of pips above it and it was actually missed by one pip or so. I closed it manually as it retraced from this area, still made a nice profit from the trade.

In this blog post I set myself a target to hit before Christmas. If GU had hit the target yesterday I would have achieved this. So i'm close. One more trade will see me over the line. I won't be pushing for it and making mistakes but it would be great to go into the Christmas break knowing i've achieved a target i've set for myself.



28. Forex. Trading. Music. Beer. Food. Travel.


Post a Comment