This is my trading preview for the week of May 20th.
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 +39,240
Last week was quiet, same like the week before.
I was able to exit only 1 trade last week:
LONG USD/JPY 1 LOT +39,240
I opened 1 lot on May 3 at MS1 152.43. I was able to exit at MPP 156.20 on May 14. This was an excellent trade, which was easy to execute thanks to the positive swap points, which gave me no negative feeling while waiting for the take profit to be hit.
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.
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 1 LOT to exit at WS1
I opened 1 lot on May 13 at MR2 0.8324. Now I am looking to exit at WS1. I also have an order to add 2 lots at MR3 0.8400. 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!