A long signal on AUDNZD this morning. We’re out of the kumo and the 21 EMA is trending nicely. Latest fractal allows for a nice tight stop loss placement.
Another case of retrace taking me out with subsequent continuation of the trend in the right direction. No problem, but a very bad start of the month with mainly losing trades so far. I do however have two open trades that are in profit. I’ll have to manage them well to get the money management machine to save the day. No change in the strategy, no revenge trading, I missed a couple of good signals that happened during midday but that’s how I trade, nothing I can change and it’s been profitable so far. So this month is a typical case were psychology usually drives you to overtrade or shift strategies. I’ll try and stick to the rules without emotion.
Going short, a trade setup on AUDNZD has appeared, trend is down, price is below cloud, Kijun and EMA trending down, stop loss at previous fractal, low risk 0.9%.
Good morning, I have to entries this morning.
One on NZDJPY and the other on CADJPY (see graphs) :
To know more about my methodology, read about it here.
After trailing my stops to limit exposure during RBNZ press conference, my two trades exited with a profit : +137 and +19 pips.
Day ends with a total of +170 pips