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Found a good spot for GBP longs

AdamFx42 Posted 26 May  in #Trader's blog #Technicals #Economic Data #GBP Longs
I have finally found a good spot to go long Gbp
I am long GbpJpy above 161 - this is support for another bulish move up
GbpChf is supported above 1.4540 - I am long this pair too
First off, I was up 30K, after adding a GbpUsd long at 1.4730, and a GbpAud long just below 2.05
Then the market dropped sharply just now - turning from +30 to -20K in my account
As there is no real reason for this drop, I added a GbpNzd long here
There is UK data coming up- and traders will take any reason they can to …
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Got stuck in trading USD yesterday

AdamFx42 Posted 17 Mar.  in #Trader's blog #Correction #Retracement #Economic Data #Taking A Risk Long Usdjpy
I traded yesterday without a plan or reason - it was almost very costly
I decided to trade the data release yesterday - US interest rate decision
I had already missed the pre-decision run up, and I knew that
The only reasons I had was that I hadn't traded for too long and that I wanted to increase capital
I should have known better to trade without a plan - you never know the outcome of a data release
I was betting on a hawkish note from the FED and maybe even a interest rate rise
I got caught i…
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US, GB and Japan interest rate decisions this week

AdamFx42 Posted 13 Mar.  in #Trader's blog #Economic Data #Another Busy Week
This is going to be another wild week for trading
Coming up on the economic calender are three interest rate decisions
The US interest rate decision being the most eagerly awaited (and interesting) one here
Traders areinterested whether US will keep its promise of raising the rate three times this year
A no raise now - and dovish tone - will be bad for credibility (and USD)
A rate raise, or the promise of one soon followed by another this year, will be good for US
Again - like ECB - it will be t…
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Good start to new month in contest

AdamFx42 Posted 1 Mar.  in #Trader's blog #Fundamentals #Technicals #Economic Data #AUD Long
I started off well in this Contest month buying Aud
Last night at the start of the contest Australian data came out - interest rate decision
Because it was widely expected by traders to be left on hold, I thought of a trade
I went long AudUsd for a rally after the interest rate decision - and betted they would hold rates
At the same time I shorted GbpAud and EurAud because of technicals in these pairs pointed to the downside
The strategy paid off and I find myself in the top 10 traders right awa…
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Trading the Canadian releases coming up

AdamFx42 Posted 19 June  in #Trader's blog #CAD #Cpi #Bullish #Economic Data
The Canadian consumer price index - or CPI - figures are coming up
I decided to trade the last major piece of economic data coming out this week
I noticed in the market that traders are already buying Eur/Cad and Gbp/Cad before the release
as if they know what is going to happen??
I decided to go short both these pairs as they are higher now and near resistance levels
The Canadian spending figures should be good, as Eur and US figures where good too,
and there are no indications of a downfall th…
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Hopes moving to USD/JPY strength for now

AdamFx42 Posted 3 Apr.  in #Trader's blog #Technicals #Economic Data #USD Strength
My Gbp longs have stopped me out for now, although the technical lines of support are still holding
I went in too deep at the beginning of the month
I have switched my attention to Usd strength against Jpy for now
Us economic data is strong, and a strong technical resistance at 103.8 has been broken,
Usd/Jpy will be hovering above this resistance now turned support
and will be looking for a reason or occurance in the markets to break up
I have started of with a Gbp/Jpy long around 172.6
and will…
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