2 Positions we started off Monday. As with most Mondays, the direction for the week was not clear. There was a good amount of consolidation, prior to any trend developement. With the Aussie, the trend never revealed itself, even after a significant rate cute by the RBA. After a few spikes in both direction, and clearly a loss of momentum, I closed this out with a +24 gain.
- Time saved
- Pips gained
- Great filtration and we move on
Our Cad(loonie) position had a much more positive picture. There was certainly some drawdown in the beginning, but remained bullish on the indicators. This is just a volitile time, and a volitile currency pair. Still when the signs grew more bullish, I added to the small position, and will manage this until I see a clear loss of Momentum.
Outcome: After 400+ pip gain from the start of the week, we trailed this stop by about 85. The pair reversed sharply in the afternoon, and by using the trailing stop we saved at least $200. The key 1.3000 handle just could not hold and like 2 previous tries, really got rejected to the downside. We've taken about +600 pips this week, and from the 2 previous weeks, trading conditions have not been easy to analyze or manage. Pleased to say that we had a good week in a tough market.
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