Winter doesn’t seem to be over yet for Aussie dollar. It takes another week or so to see if a higher low can be formed and resume it’s uptrend. It just failed to close above 200-day moving average, while weekly, it is stuck between the zone 20-week and 50-week average. I am not turning bearish right away, though it does look ugly for bulls now. I am watching the support around the area of 0.865.
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I did not manage to make a single trade this week. The increase of workload and stress level, kept me in a bad condition for trading. I missed to sell off of Aussie dollar this week. However, I am now considering to increase my long term Aussie dollar holding. Though the rebound might not happen immediately, it seems to be a bargain to me now. Well, let’s see how it goes.
Asian stocks market was having some wild ride as well. I am checking out my stocks position now. I have long positions in Singapore stocks market. Not too much, so far, the performance is better than my savings account in bank now.
I certainly do not like the stress and the tiredness that my current job has given me. But well, to be frank, for the sake of money, I have to find a way to deal with them. Do I sound like a modern slave? I guess I am.
Not a great day for me. Extremely busy working day and my profitable long position of Aussie and short position of loonies are stopped out. Oh well, if only I can monitor the position closer, I would have a better exit. I am flat or maybe slightly down for the week.
Finally we see a breakout of Aussie dollar. I was long since yesterday, but was stopped out. I entered another long position today after the release of the much expected interest rate raise.
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I went short on USD/CAD since yesterday and held overnight. Though both Aussie and looney trades are winning trades, I grade my own performance rather poor. I lost my patience to hold on winner. (Good old problem again). The fear of losing profit affects my performance and limits my profit. This is something that needs to be overcome.
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When will I ever correct my bad habit of exiting a trade too early? Fool. I made two trades today. Aussie started to bounce. A nice one, while looney started to tank again. Another nice one. I managed to grab some profit from short position of USD/CAD, +0.65 R, while break even from Aussie dollar.
Two good entries, but two bad exits. Oh well…what the hell were you thinking, Mr. Gavin?
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I thought it was going down, but it did not.
I thought it was going to bounce, yet it did not.
That’s my comment for Aussie dollar. I do not initiate position just yet. I would prefer to watch the price action a little bit longer. Overall, I am positive on Aussie dollar trend, at least for now. (You’ll never know, I might go short tomorrow 😉 )
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Here we go. How about some Looneys? I am tempted to go short. What do you think? Let’s see how it goes.
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