The end of week 1 is near. After cashing in all winning positions on conditional orders with a tight TP on each - profit was marginal for the great potential in these charts. The main economic event of the week, number of pips speaking that is, was this morning´s Australian employment change. I had set up good positions on EUR/AUD and AUS/USD that could have made 75+ easily but had the default 20 pip take profit order on each This can easily be seen in the screenshot below.

I also opened new positions on AUD/USD and EUR/AUD aimed at cashing in on the retractment of the spike of 01:30UTC. However - they were both premature and are currently both at a loss. I also still have the long position on USD/JPY open. In total these positions outweigh my profits of 60k plus from other positions this first week of August. All I can do now is wait for things to smooth out significantly before 18:00 GMT tomorrow


The Canada employment change at 12:30 UTC is the last significant economic event of the week. CAD/JPY could be a good choice to get in, before or after the fact. This figure often comes in quite different from forecasts and almost always gives a good trading oppertunity when it does so. I wish you a happy weekend and week-end on the platform.

elmagnifico
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