This is my trading preview for the week of May 13th.
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 +3,093
Last week was quiet compared to the volatile week before.
I was able to exit only 1 trade last week:
SHORT AUD/NZD 1 LOT +3,093
I opened 1 lot on Apr.26 at MR1 1.0986. Then I was able to exit at MPP 1.0955 on May 8.
OPEN TRADES AND EXIT POINTS
Last week was a quiet one, which left me with 3 opened positions from before and allowed me to open 1 new position. So I have the following 4 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.
LONG USD/JPY 1 LOT to exit at 156.20
I opened 1 lot on May 3 at MS1 152.43. Now I am looking to exit at MPP 156.20. I also have an order to add 2 lots at MS2 147.03. 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.
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!