Here is my trading plan for the last week of the contest
After going through a rollercoaster ride this week:
gaining heavily on Aud data and then losing almost everything after the NZ data,
then reversing my positions following the Nzd further down -
and finally crawling back into the top 20
I have finished off the week with a Gbp/Nzd short position
This position seems to be going the right way for me,
so my strategy will be to maximize this trade and add further in related trades/pairs:
I intend to sell into Gbp retracement further down:
Gbp/Usd resistance is now technically at 1.7040, and if price action stays below this level
we will see the pair will make a further move down;
at the same time there is room now for Nzd recovery after the downfall last week,
so I will be looking for long positions in Nzd crosses with weaker currencies, too:
this means that I may add a short position in Eur/Nzd is Eur/Usd stays below 1.348, or breaks below 1.34,
and maybe go long Nzd/Jpy, if Usd/Jpy regains upward momentum next week,
further weakness in Gbp may result in a breakdown in Gbp/Aud below 1.8;
I will be monitoring this pair, too
All in all I am looking to cash in heavily on current market moves and make at least 100k at once,
using the maximum leverage - selecting the most interesting pairs\
Depending on how I end up I will then decide whether to take new trades before the 31st,
my goal being at least a top 3 spot in the contest
I will be doing my chart analysis to decide on the pairs to add to my current position tomorrow
Gl all in the final week - still 4 days of intense trading left to do
After going through a rollercoaster ride this week:
gaining heavily on Aud data and then losing almost everything after the NZ data,
then reversing my positions following the Nzd further down -
and finally crawling back into the top 20
I have finished off the week with a Gbp/Nzd short position
This position seems to be going the right way for me,
so my strategy will be to maximize this trade and add further in related trades/pairs:
I intend to sell into Gbp retracement further down:
Gbp/Usd resistance is now technically at 1.7040, and if price action stays below this level
we will see the pair will make a further move down;
at the same time there is room now for Nzd recovery after the downfall last week,
so I will be looking for long positions in Nzd crosses with weaker currencies, too:
this means that I may add a short position in Eur/Nzd is Eur/Usd stays below 1.348, or breaks below 1.34,
and maybe go long Nzd/Jpy, if Usd/Jpy regains upward momentum next week,
further weakness in Gbp may result in a breakdown in Gbp/Aud below 1.8;
I will be monitoring this pair, too
All in all I am looking to cash in heavily on current market moves and make at least 100k at once,
using the maximum leverage - selecting the most interesting pairs\
Depending on how I end up I will then decide whether to take new trades before the 31st,
my goal being at least a top 3 spot in the contest
I will be doing my chart analysis to decide on the pairs to add to my current position tomorrow
Gl all in the final week - still 4 days of intense trading left to do