TRADE-UPDATE, USDCAD & AUDUSD, 22.2.2017

Trade 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