This trading week was quite boring for me. I made 60 pips on a long AUD position and 6 pips on a EUR/GBP long put. On Friday I opened EUR/GBP put again paying up 30 pips for an option expiring on July 14th with a strike of .8350. Needless to say it has lost some value due to a move higher in the spot at the end of Friday’s trading session and I’m sporting an unrealized loss of 24 pips at this time.
Bullish engulfing patterns on AUD, NZD, and CAD probably mean higher prices ahead, but at this time I have no clear ideas for next week. I might probe the short side of GBP/USD given that it closed the week at its lows.
Stocks made an impressive rally, but as I mentioned in my Thursday’s post, the bullish percent indices are not reacting properly, so this could be a headfake.
I’m currently ranked third in Alpari’s “Jackpot” contest. you can check it out here
http://www.alpari-forex.com/en/contest/real_classic_rating/
“alchemist” is my contest id
Tags: fx trades, FX trading
