I was expected this meeting for a while (FOMC) to see what will happen with the dollar and as I taught they won’t raise rates in February. At the moment dollar is weak in my point of view and for that given reason I chose to sell it against Gold. On the other hand I’m selling GBP because the term for U.K. to pull Article 50 is close and I can see a downside on Pound. The Aussie dollar got some really bad news on expenditure so that’s why I’ve decided to sell it.
XAU/USD long @ 1237.11 with TP at 1243
GBP/USD short @ 1.2447 with TP at 1.2366
AUD/USD short @ 0.7688 with TP at 0.76
Yesterday entry orders haven’t been hit because of the low volatility in the market. I could’ve get in at the market price because I was expecting that but I just wanted to play safe(first trades of the year nobody wants a bad start). Anyway I did made 80 pips from 2 trades which is ok for the first day of 2017. I post a picture with my profit so I can show you all that I follow what I preach. I wish you a profitable trading day.
I will start the first trading day of 2017 with the following trades:
*AUD/USD long @0.71850 TP 0.72300 SL 0.71600
*GBP/USD short @ 1.2300 TP 1.22200 SL 1.23600
And two pending orders:
*USD/JPY long at 117.200 TP 117.800 SL 116.800
*EUR/USD short at 1.05000 TP 1.04550 SL 1.05300