Thursday 7th & Friday 8th May

by Liam 17:54 0 comments EURUSD Introspection NZDUSD

5 trades, so I'll get right to it. 2 short term trades on Thursday - a loss and a win. 2 short term trades today - 2 losses. Then there's the long term Kiwi trade which closed today for a small profit of 20 pips after NFP. All in all, the end of a week i'd rather forget about. Kept it simple the last couple of days and completely missed the mark on three of the trades.

Thursday trades

EURUSD Buy

The high volume in the red circles on the 15min chart sent this chart down. It just so happened that there was a buy at the high. I made the mistake of thinking that the high volume wasn't weak and went with the trend and MA. I was wrong.

EURUSD Sell

The one successful trade. After it fell from the high I took the next signal that came along after an upthrust into the high of the green zone.

Friday trades

EURUSD Buy

Tried a buy today once price had broken into the orange zone and bounced off the low with a P&F pole. Didn't last very long before pushing back down.

EURUSD Sell

The buy failed so once the stars aligned for a short signal, I took that. This also failed. Stopped with the noise just before NFP. Perhaps I should've closed before this news but I was never in a good position to take some money off the table.

Kiwi Short

Kiwi 1HR Short

It found support where I mentioned in a previous post that it might. I pulled the stop down before NFP announcement which was hit soon after. Bagged about 20 pips but it wasn't worth much as my original stop was 90pips.

-4.82% for the week. Ouch.

I'm now down for the year.

Really need to turn this around and i'm not sure how to approach it.

I'm over the in the UK this weekend for my Dad's birthday. So we'll have some beers, have a chat and try figure out the next approach.

Have a good weekend everyone!

Cheers,

Liam