Said I wasn’t going to really trade but just had to take longs on AUD/JPY & CAD/JPY literal money printers at this moment. AUD is killing everything in its path might look to take another position on a pullback if it even does a significant pullback at this moment.
Other than that I’ll go back to twiddling my thumbs and working on my website.
More importantly I’m already at my year goal and probably one of my bigger trades I’ve taken in the last 2 weeks. Might make some more and just trade off the new profits so even if I lose it all it’ll be my 2nd profit set that’ll be wiped.
Had a short on USD/JPY at 107.700 but saw the move deteriorating yesterday and closed it out before it would’ve hit my SL. Thank God as USD/JPY has literally ripped up towards the 108.600 so it was definitely good for me to see the breakdown and get out without losing any capital.
I forgot to post up my trades for the week. Didn’t take any trades but had I would’ve been in the green. Anywho looking at a potential possibly on CAD/JPY. Also I might look at USD/JPY not sure though really.
Anyone who caught the sell action on all these pairs at the price points would’ve had an excellent week.
If you’d taken the short GBP/JPY at the 137.254 you’d be up 269 pips at the end of the week.
If you’d taken the short EUR/JPY at the 123 you’d be up 210 pips at the end of the week.
If you’d taken the short USD/JPY at the 109 you’d be up 160 pips at the end of the week.
More importantly notice how none of the longs would’ve been triggered at the proper spaces we provided with the set-ups there. This is the beauty of looking at a longer time frame so you don’t wipe yourself out.
I’ll be adding my analysis again for the week tomorrow. More importantly looking at the COT report I’m seeing big addons to safe haven currencies and I’m expecting a risk off mood escalation this week ahead. A lot of these riskier currencies that immediately shot up have to continue retracing in my opinion a bit more with reality starting to materialize.
I’ve hit my goal for the year so I don’t even want to participate in trading. This is more being disciplined on my end and accepting the goal that I’ve reached.
This is what I’m looking at for the week. Let’s come back Friday and see how many I was wrong or right about?
