I am obviously at the wrong side of market this week. So, before any serious damage , I decided to stop my car for a while, and enjoy watching. 😆
GBPUSD
Bearish view of GBP crosses
We saw a pretty good run of British Pounds crosses recently. However, good things seem to come to an end. I saw bearishness across GBP crosses. Looking at the bigger time frame of GBPUSD (i.e daily and weekly), now might be the time for down trend to resume. For short term trading (1 to 2 day time span), I am looking at EURGBP Long, GBPAUD and GBPCHF Shorts. Swing trade, GBPUSD is another shouting SHORT to me.
Here is the….CHART!
You can find my shameless, fatal market calls on Twitter and charts on Chart.ly.
One Euro Trade : Long EURUSD
As mentioned in my Twitter, I was looking at Long Euro and short Cable. GBPUSD went without me. I managed to Long entry of EURUSD. Around +70 pips. It might go up further, but, who cares, profit target was taken.
Here is the …. CHART. (Click to view full image)
One GBPUSD trade
I think the chart shows everything you need to know. As mentioned in my Twitter, I was looking to long GBPUSD. Pretty simple technical trade. Similar to my dummy trades, but of course with some tweaks.
Here is the…… chart (click to enlarge)
Weekly wrap up
Nothing really new. I am trapped and exhausted. I am talking about my day job. What can you do when you are working in an environment where there is an obvious skill incompetency in the team? I don’t know. I am not complaining too much since I am an independent professional. I do whatever I am supposed to do , and leave. The job just makes me tired and sick.
Trading front, I am not too active this week. Made 3 short term GBPUSD trades during London sessions, 2 winners, 1 loser. Nothing much to talk about. I am starting this type of short term trading, experimentally, as I foresee in the near future, I might have the luxury to spend more time in front of the screen. ATS is still work in progress. I am running the system, analyzing the signals, but , not making live trade. It is really easy to create a system or a program to generate trading signals. But, it requires a lot of energy and time to manage the trade when the signal comes. Given my current condition, I will screw up good signals.
I am studying some patterns in oil futures now. Probably I will post 1 or 2 findings here later, well, if I find it appropriate.
All right, it is time for me to make my Espresso, and enjoy the Sunday morning. It is 9:20am at Melbourne now.
Have a good weekend, and good trading week ahead.
In the market
In case you wanna know, I am in the market right now. Long AUDUSD, Long GBPUSD. Speculating on the rate cut from Federal reserve. Small position though. Go go go
