Aug 22 Positions Update

Open orders

  • EURCHF – Still marginally positive as buyers keep the rate buoyed above the 1.21 handle. Note this is a multi-week play, so I am expecting to hold the positions into Sept.
  • GBPCAD (new) – Went long GBPCAD at the 50% fib retrac of the last leg up, and I just added a small position near lows. At present the trade is in negative territory, but still finding some demand at 1.8145-25. Stop placement just under double bottom.

Close Orders

  • EURJPY – I got stopped out for a fractional loss of my initial risk. Price action seen this week gave little evidence that bears were in the mood to push any lower, so I protected capital accordingly.

Pending Orders

  • I canceled USDSGD and CHFJPY as price took off without me on board. Now these markets have travelled to far from my entries to still keep my longs as new structures are developing.
  • GBPUSD – I keep a short position in Cable near 1.68, although trade not expected to be triggered anytime soon.

Weekly Performance

  • I am not expecting to put on new orders until early week as most market participants will now remain sidelined letting the Jackson Hole dust settle first. I will be looking to enter fresh positions early next week. As per this week’s performance, so far I am down 1.1% after taking a loss in NZDUSD long and another tiny one in EURJPY.  I remain +5.5% for the month.  In hindsight, this week was all about USD strength, unfortunately, I couldn’t position to capitalize on the runs seen.

1

Filed under: Uncategorized

The post Aug 22 Positions Update appeared first on www.forextell.com.

Leave a Reply