Another uneventful trading week for me. I closed EUR/GBP put with 3 pip profit and had a long GBP/USD from 1.5209, which I closed at 1.5247. I aslo had several small trades netting me 20 pips. Late Friday afternoon I entered a long GBP/USD at 1.5365, which is currently carrying an unrealized loss of 65 pips.
Trading environment was quite difficult. After a bullish engulfing pattern by commodity currencies in the previous week they weren’t able to put together a decent follow through. The loonie put in an especially weak performance, while the kiwi had 2*ATR day down on Friday, which wiped out all of the week’s gains.
The Euro and cable did substantially better, but cable put in a bearish engulfing candle on Friday, so it’s bullish prospects got somewhat diminished. The euro on the other hand charged ahead briefly breaking 1.30 level.
The equities also weren’t able to close the week higher after a good run-up in the early part of the week.
So overall picture is a bit clouded for me for the third week in a row. There are really no high percentage plays to consider.
My trading contest is going quite well, i’m third in the rankings and have been holding steady in the top 4 since the beginning of the contest.
Tags: fx trades, FX trading
