Hammurapie's Blog

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Sitting in GBP short atm

I missed one possibility to move stop into profit zone early morning, I will wait for a couple days and if it's still in the red I will close my short by Friday evening. Atm I'm willing to take even 20 pips of profit. I'm also still keeping an eye on EUR/USD, but I'm not sure whether I should simultaneously keep positions on different main currencies, we'll see.
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Last pair to monitor next week: USD/JPY

I feel like opening a long on USD/JPY monday-tuesday, the stop can be small thanks to 113.80 level, take profit is huge if we break out of range and go up, 200-300pp is not out of question I think (maybe not in one day, I'm willing to wait until Friday). I don't think it's a good idea to move stop into profit zone on this one unless we actually break out and go above 114.50.
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Another idea for next week: GBP/USD short

Since GBP/USD is far from any levels, I think the downward trend is going to continue. It's probably safe to short with stop at 1.2920, tp at 1.2840 or at least move stop into profit zone when you reach 1.2840 because we can bounce back up. I'm also thinking whether to short GBP against only dollar or the entire basket, I guess we'll see on monday asian session.
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Big picture for the next week

So today GBP/USD went down, even harder than I anticipated/predicted, very good. My first idea for next week is EUR/USD long with a big stop and take profit, I think it can break through 1.1450 and fly upward, I think the current down is an end of a big correction. I will wait for additional signals before entering, so not necessarily on monday, take profit at 1.1520
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Last idea for this week, short GBP/USD

I was in the wrong about AUD/JPY, but correct in other predictions. Tomorrow is Friday, don't expect big movements, I will short GBP in hopes that it cannot breach 1.2980. I will probably open position tomorrow morning, 50pp TP 30pp stop loss, will move stop into profit zone immediately when I can.
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Missed the whole entire JPY movement

Was busy in the morning and missed most of JPY downward slide against the basket I predicted yesterday. I'm still looking at USD/JPY, EUR/JPY, AUD/JPY longs if the price backtracks 20-30 pips.
Another trade idea I have is longing AUD against the entire basket in equal proportions, especially AUD/JPY since JPY is going to fall further in my opinion, entering at 86.20.
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USD/JPY, EUR/JPY longs

Closed current positions for now, my next idea is shorting JPY but I don't want to enter before wednesday unless there is a strong movement upward. Target entry is 128.70 for EUR/JPY, 113.35 for USD/JPY.
I will also look at reentering EUR/USD short if the pair draws a good hourly pattern this week, there is a potential for a big movement down imo.
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USD longs

I sold EUR/USD and GBP/USD early morning, will hold both positions for some time, I can see the price dropping further significantly. Will move stop into profit zone if prices touch 1.1300 for EUR/USD and 1.2880 for GBP/USD. Take profit is 200 pips below current prices.
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AUD/USD long, I see it coming.

Tight stop loss at 0.7590, take profit somewhere around 0.7750 (can move it), will move stop into green zone if it goes 40 pips away or more. Movement upwards looks very promising, I think it was a fake down and we'll see breach of 0.7700 and maybe even some big 200-300 pips movement afterwards.
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EUR/USD long

It seems like it doesn't go down. I guess it's time to flip and go long while we're close to good levels (1.0600, 1.0550), I'll wait and see what happens. If it's a beginning of a big movement - fine, otherwise I can have a short stop and exit. Take profit would be beakout of a smaller consolidation into a bigger consolidation on 4h chart, maybe even more, we'll see. Stop is just below 1.0580 or 1.0550.
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