Trade Report Week Beginning 05/11/2012

Hi all. Hope you had a good weekend. Here is the trade report for the coming week.

 

 

How time flies ...

Hello traders and welcome to another post at the fxtradingcorner. I didn't even realise that it's already been a month since my last post. Things have been quite busy and coupled with a bit of laziness in the evenings means I'm less inclined to create the daily and weekly updates.

However, today I'll do quick recap of the month. Markets have really been in consolidation mode. Not much big news really with the overall backdrop focused on Spain and the American Presidential elections.

A recap of trades in Oct 2012 so far:

Time stamp	Oct
Years	2012
Count of Flag	Column Labels
Row Labels	Loss	Win	Grand Total
AUD/USD	2		2
EUR/CAD		1	1
GBP/USD	1	1	2
AUD/JPY		1	1
Grand Total	3	3	6

Not too bad for the month. At the moment, I have carried a short position into the weekend close on the AUD/NZD, off the back of a pin bar signal:

There was also a nice setup in EUR/CAD, but I had removed the order which I had setup together with AUD/NZD order. Didn't properly reviewed the order, otherwise would be in an additional 50 pip profit. From the screen grab, you can see a very nice pin bar setup off of former resistance turned support. A better trade than the AUD/NZD probably.

Watch this space Monday for an update. Fingers crossed for a favourable gap down in the AUD/NZD.

Week is almost over

Good evening traders and welcome again to my trading blog. Just quickly recapping last week's EUR/USD trade ... it was a loser. Pin bar setup failed with the Euro losing ground over ongoing concerns in the region (especially Spain).

So, this week, went with a short setup and netted a nice 80 pip profit. Gave back 25 pips today on a short GBP/USD trade, but that's ok. Had a valid setup that didn't work out, that's all.

For your viewing, a look at the two setups:

EUR/USD

Working from a pin off the 20 period MVA on a H4 chart, price action moved lower throughout the North American session and well into the opening of the European open the next day which is where I exited.

GBP/USD

Set a sell entry order at the neckline of the head and shoulders pattern. Didn't quite work out as price action has now broken back above the neckline. Still bearish on the pair, but will need to wait and see ...

So far this month ...

Hello traders, and welcome to TGIF. This week hasn't been too bad so far. First winning trade in a while. Went long in AUD/USD which worked out ok, but gains were capped by the volatility with my trailing stop being absolutely smashed before heading higher immediately the next day.

Tonight, long trade in the EUR/USD off a pin bar setup. We'll see how this runs into the weekend. A bit volatile at the moment, so anything could happen.

Ending August on a low ..

Hey traders, how are we all today? I got a bit lazy with doing the weekend wrap up. Instead I setup a short trade in EUR/USD today. Was looking to catch a short term trend reversal back into sloping trend line support. However, got a bit hasty and didn't wait for confirmation signal on the retracement.

Net result was another loss for August as an overreaction to some mediocre news saw EUR/USD rocket past my order and stop. No matter. Will need to exercise more patience as I get back into this game.

Post mortem

Evening traders. So, for those of you who followed yesterday's price action in gold, you would already know that unfortunately the trade didn't work out. After initially being in 1.5 times profit, the FOMC minutes worked against me. The "print more money" theme was in focus, pushing gold past 1650 handle quite easily.

Time to move on to the next trade! No setups of note tonight, although some nice ones played out during the Asian session. Too bad I have a day job. However, will keep a close eye on developments. Tune in for the weekend wrap up at the end of tomorrow's session ^_^.

Update ...

Just a quick update traders. So the gold setup completed and has triggered the order. Early movements are looking good, but we shall see how it plays out.