EURAUD Making a retrace back to the WVA & LWMAs.
Nothing to do but watch and wait over the next 12 to 16 hours.
1st trade this week. Look to take partial profits at 114.50.
IMPT: I expect to lose every trade so I manage my risk accordingly.
Stopped out on the 1st trade.
I always take partial losses as well as partial profits so it limits the loss amount.
I’ve taken a 2nd entry on this current trade idea and got a little better entry as I wasn’t able to enter the trade at the close of the 4 hour candle.
As always, I expect to lose every trade so the risk is well managed.
Finally got the reaction I’d been waiting for.
Look to take partial profits at 1.55000 and will take partial losses if trade moves against me.
All this is done automatically so there will be little interference from me.
It’d be nice if this one plays out as I’ve used this pair as an example of how I trade.
As always, I expect to lose every trade so the risk is well managed.
Nice decision to take partial profits at 114.50 as Friday’s London & NY Session sold off strongly from there.
USDJPY
NOV WEEK 3 Analysis
Last week closed higher than its open and ended with a 100 pip wick to 115.00.
The LWMAs are still recommending BUY setups so it will be interesting to see how Monday trades given there is a Bank Holiday in Japan on Tuesday.
Even though it was a bank in holiday in Japan on Monday, news of Powell being renominated for the Fed pushed the USD further up.
Happy to wait for a return to this week’s value area and see if there is nice buying in that area.
Partial profits taken @ 1.2700 and stop sitting at breakeven.
I’ll close the rest before 3 pm New York time as I don’t hold trades over the weekend.
A bounce of previous week’s value area.
Even though price is under the LWMAs it can be a quick buy trade as price gets “pulled” back up because they are yet to crossover.
Just wise not to shoot for the moon on these types of trades and take partial profits especially since it is happening during Friday’s Asian session.
Very wide WVR to start the week on this pair.
I prefer to sell above this current area as we have already broken last week’s low but my preference would be a high to form here then look for a Sell on Wednesday or Thursday after these highs have been taken out.
I’ve marked that area in red and it lines up with the previous week’s WVR high.
That’s basically it now for this trading year.
Looking forward to seeing some nice moves in 2022.
No matter where you are in this World I hope that tomorrow is always a better day for you than today.
Cheers.
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