My trades for this week – GBPUSD, EURGBP,USDCAD

This week started on my T3 strategy rather quiet. First trade was on Monday, when I tried to FADE the second leg of double top which appeared to be in an “inverted hammer” fashion. Well, that trade didn’t work out well but the stop loss was pretty tight and I had to accept the loss of -21pips. After that, the market volatility and most importantly readability dried until today.

This morning I have executed one trade in EURGBP which was much more quicker than I expected. Well good for me since I was on the right side of the speed train. This trade produced +41pips. The idea behind was to go LONG and fade the long term rising trendline and trade the trend which started by breaking the 8450level. So far EURGBP is moving so technically that I was able to use this nice visible trend to trade it over and over again with the same strategy fading the trend squeezing more than 300pips out of it. I am staying very nimble though, since these technical plays don’t happen very often.

Last trade in USDCAD is still in progress. The idea and plan was to go SHORT after the close below 9790. Strategy behind this play is simple – SUPPORT-BREAK – with support from the daily downtrend. Again this pair has provided many nice opportunities in the past several weeks. Initial RR was 1.3 but the stop-loss was soon after adjusted to 1.5. See my game plan which is something what I do with every little longer term trade I make (T3). For now the maximum in my direction is +52pips and maximum against me is -7pips so my emotions weren’t really tested yet. Take profit is 20pips away so let’s see what happens.

Again this week is over for me. My weekend starts little bit earlier. Have a great Friday and relaxed weekend.