This is my trading preview for the week of June 3rd, which is also the start of a new month, meaning that we have new updated targets.
Before looking into the new week, let us review my trades last week, and then discuss my open trades, how I plan to exit them, and any active new orders.
TRADES EXITED LAST WEEK: +8,085 yen
Last week was really quiet, but I was able to exit one trade. Incidentally, it was also a trade I opened in the same week.
SHORT NZD/CHF 1 LOT +8,085
I opened 1 lot on May 27 at MR1 0.5612. Then I was able to exit on May 30 at WS1 0.5562. It was a nice lucky trade taking advantage of a market opportunity.
OPEN TRADES AND EXIT POINTS
Last week was a quiet one, which left me with 5 opened positions from before and allowed me to only add to one of my open positions, without starting a trade on any new pair, apart from the one I closed the same week as mentioned above. So I have the following 5 open positions right now:
SHORT AUD/CAD 1 LOT to exit at 0.8951
I opened 1 lot on May 3 at MR1 0.9027. Now I am looking to exit at WS1 0.8951. I also have an order to add 2 lots at MR2 0.9135. Stick to the plan, exit or add at the predetermined levels.
SHORT AUD/USD 1 LOT to exit at 0.6493
I opened 1 lot on May 3 at MR1 0.6624. Now I am looking to exit at MPP 0.6493. I also have an order to add 2 lots at MR2 0.6776. Stick to the plan, exit or add at the predetermined levels.
SHORT NZD/USD 1 LOT to exit at 0.5941
I opened 1 lot on May 10 at MR1 0.6029. Now I am looking to exit at MPP 0.5941. I also have an order to add 2 lots at MR2 0.6172. Stick to the plan, exit or add at the predetermined levels.
SHORT NZD/CAD 3 LOTS to exit at WS1
I opened 1 lot on May 13 at MR2 0.8324. Then I was able to add 2 more lots on May 27 at MR3 0.8400. Now I am looking to exit at WS1. I also have an order to add 3 lots at MR1. Stick to the plan, exit or add at the predetermined levels.
SHORT NZD/JPY 1 LOT to exit at WS1
I opened 1 lot on May 17 at MR1 95.49. Now I am looking to exit at WS1. I also have an order to add 2 lots at MR2 98.16. Stick to the plan, exit or add at the predetermined levels.
So I will update my exit points when the WS1 data is updated on Monday morning. And I will put in new trades according to the relative strength of the 8 currencies.
Let's go!