TRADE-UPDATE, USDCAD & AUDUSD, 22.2.2017

AUDUSD

  • Summary
    • I am still riding the two trades. One was put on early last week in AUDUSD. I have added first position @7575. I m still holding that position targeting for weekly highs. It is close to two weeks but the progress is shallow, up roughly 100pips. I have added last week one other position in audusd to scale in, but due to other exposure in other pairs and lack of decent movement in this pair I have closed that position around 0.
  • Reasoning & thinking
    • Nice run on a daily
    • AUDUSD is a c*nt so it will take those weekly high before moving lower again
    • Great accumulation phase after a runner (love these play) -> reason for first entry
    • Strong breakout and held -> reason for second entry around mid of range (50%).
    • Broke of 77, I was expecting bigger flush, this did not happen, trade came back to the mid of prev.range -> exited second position
    • Still holding first core position
    • Warning zone at 7636

USDCAD

  • Summary
    • SDZP play (blue zone down), hit it on blind. Still holding to the red zone for the flush of highs
  • Reasoning & thinking
    • this was a play of favorable RR
    • Pair came close to the zone
    • 1.3000 held multiple times with quasi
    • Tradeline broken, good sign
    • Now 3200 – 3250 critical for me taking out the position

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