I went long today on USD/JPY and AUD/USD
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
Only USD/JPY and GBP/USD for the moment.
This week I have a feeling that USD will retrace because in my opinion is overbought, so I will try to find spots where I can sell it and make some profit.
USD experienced some pullbacks last night but now it gets back in shape and till now GBP/USD is the best performer. The reason this pair is the best performer is that GBP is still suffering the “Brexit” disease. The rest of the pairs are still holding up but are slowly fading while the USD bulls are getting back. Are some rumors that USD rise hike is already priced in so I want to let you know in order to proceed carefully if you want to open more trades before the FOMC meeting.
I will try to get my profits before the meeting but if the trades are not meeting my needs I will risk to go trough the meeting. I shall get in touch with you tonight to show my results.
This being said I wish you all a profitable trading.
P.S. I will add a link today where you can see the meeting live.