Usdcad trade from yesterday's nafta event. Hoping it hits the TP today but I may extend it longer but let's see. I am also in a usd/mxn Trade which is in drawdown{image}
TP almost hit but may close it for profit now as it's a busy day.
Fundamental Trading Always beats Technical Trading 100%
- #1,146
- Aug 28, 2018 9:32am Aug 28, 2018 9:32am
- | Membership Revoked | Joined Jun 2017 | 1,576 Posts
{quote} well... Not like it wasn't a surprise. More like a sell the news, buy the rumor event. New trade pact with Mexico was fully priced in...
You can say that, but with the beating dollar has been taking across the board some may have felt it would translate into that pair also. Anyways.... I have taken the profit on CAD and still letting TRY trade run in profit
- #1,147
- Aug 28, 2018 9:36am Aug 28, 2018 9:36am
- | Membership Revoked | Joined Jun 2017 | 1,576 Posts
Opened long eurusd, plan to hold till tomorrow Prelim GDP q/q. {image} Looks like small impact forecasts are also good for eur and bad for usd. Just did not understand yesterdays Trump comments - is that good or bad for dollar. But yesterday candle does not show that they are good for dollar. Retail traders sentiment also support my decition - long are 36 % on myfxbook. Plys it closed above resistance level, which now is the support. https://dailypriceaction.com/weekly-forex-forecast/august-27-31-2018 {quote} Looking at the H1 chart it...
{quote} If you were long then this was a good trade for you
yea, there is some profit. Now I reduced my max risk of balance to 0.5 % of capital, because I have lost my little condidence after recent trades when eurusd gained a lot, I made big trade near 1.1510 resistance thought its so high probability trade and at worst case will lose less than SL amount. But it did not now, I was wrong in understanding fundamentals. I understood that Trump weakened dollar, but did not think that its for long time. Maybe should have paid more attention to retail traders sentiment, because it was saying earlier that that shorts are not good because more than 50 % retail were shorting.Was considering go back to demo account, but I think ok, now lets try with smaller amounts, till I get to the smalles possible. And if this goes bad, then back to demo.
If I had 2 % rule, now would have earned much more and get back losses more quickly, but lets hope I will improve and get confidence.
Now there is a dip, and you can join also I think, at least I would. Of course worse risk reward but if I would think that its too bad, then I get out of position now. USD GDP forecast I think should still drag price back. And dip happened after good USD news about hour ago. But you are more experienced so probably its not me who can advice and who is losing in long run
bearrish pinbar yesterday. Sign of move down by technical analisis.
But it does not work 100 % of the time, and fundamentals for me still say that we should go up, today till GDP release. Plus CAD also good forecast which corelates with euro.
Moved SL, and this added room to add more positions to have same risk.
I see USDCAD has bullish rejection candle but same logic as eurusd probably, could short it instead for diversification. But I am lazy/dont want to spend too much time after created eur positions. Plus did not read much about CAD.
But it does not work 100 % of the time, and fundamentals for me still say that we should go up, today till GDP release. Plus CAD also good forecast which corelates with euro.
Moved SL, and this added room to add more positions to have same risk.
I see USDCAD has bullish rejection candle but same logic as eurusd probably, could short it instead for diversification. But I am lazy/dont want to spend too much time after created eur positions. Plus did not read much about CAD.
- #1,155
- Edited 4:05am Aug 29, 2018 3:54am | Edited 4:05am
- | Joined Apr 2017 | Status: Trader | 407 Posts
closed yesterdays order to reduce risk with small profit while it is back. So far things do not look too good. Will be good if another trade get back to
But in hourly chart those bearish candles really are screaming for shorting. I am really confused here:
Myfxbook longs increased to 39 %.
But in hourly chart those bearish candles really are screaming for shorting. I am really confused here:
Myfxbook longs increased to 39 %.
- #1,156
- Aug 29, 2018 3:59am Aug 29, 2018 3:59am
- | Membership Revoked | Joined Jun 2017 | 1,576 Posts
Bought gbp/aud based on this news:
Samson:
FX UPDATE: Aud pressured in early EU trade, bids ahead of 0.7300 vs the Usd tested on RBA policy implications after Westpac rate hike
Analysis at 06:48
The rationale - tighter borrowing costs and the funding squeeze to keep the RBA on hold for even longer
Source: RANsquawk
Profit should be hit soon
Samson:
FX UPDATE: Aud pressured in early EU trade, bids ahead of 0.7300 vs the Usd tested on RBA policy implications after Westpac rate hike
Analysis at 06:48
The rationale - tighter borrowing costs and the funding squeeze to keep the RBA on hold for even longer
Source: RANsquawk
Profit should be hit soon
- #1,157
- Aug 29, 2018 4:20am Aug 29, 2018 4:20am
- | Membership Revoked | Joined Jun 2017 | 1,576 Posts
Bought gbp/aud based on this news: Samson: FX UPDATE: Aud pressured in early EU trade, bids ahead of 0.7300 vs the Usd tested on RBA policy implications after Westpac rate hike Analysis at 06:48 The rationale - tighter borrowing costs and the funding squeeze to keep the RBA on hold for even longer Source: RANsquawk Profit should be hit soon
Very quick profit
- #1,158
- Aug 29, 2018 5:57am Aug 29, 2018 5:57am
- | Membership Revoked | Joined Jun 2017 | 1,576 Posts
{quote} Very quick profit
But things 're not looking good for the aud economy.
- #1,159
- Aug 29, 2018 6:06am Aug 29, 2018 6:06am
- | Membership Revoked | Joined Jun 2017 | 1,576 Posts
{quote} TRY update is very good. I will either close the paotuon or take part profit and move the stop to breakeven {image}
