316 | +2.418% | 3 Setups
we can expect a VERY slow Monday today, as there where some interesting moves last week in Japanese Yen and the USDollar, plus today are significant holidays, so don’t expect much.
as expected, erratic market movements, high spreads because of tiny volume, but we made it in under 6 hours.
Currency Data:
- Positive: JPY, USD
- Negative: GBP, CAD, EUR, NZD
- Pair(s) to Watch: GBPJPYÂ (Sell), USDCADÂ (Buy)
- Asia Session Events: BoJ Monetary Policy Meeting Minutes [JPY], Consumer Price Index [CHF]
- Bank Holidays: Australia, Ireland, United Kingdom
07:47 Buy USDSGD
07:51 Buy USDJPY
08:10 hedging both USDSGD and USDJPY as the dollar drops hard on Tokyo opening (bias is still bullish, but we have to wait a little bit to see whats what)
08:18 DXY broke below micro support, reversing both to Short
08:27 reversing hedge on the drop, and re-hedging on the pivot’s claiming back a small part of the loss and move the hedge-gap closer together
09:16 closing USDSGD at Breakeven and USDJPY at a 1.1% gain, the pivot will be easy reached on USDJPY but the position is too large, and Damage control comes first!
keep in mind: Greed Kills!
10:12 buy GOLD after confirmed reversal to 1319.98 (gold is not very accurate if it comes to vWap)
10:36 thinking of exiting the GOLD trade, as the dollar appearing not to fall deeper (likely I just have not enough patience) but I’d like to have at least one trade that was not hedged today 🙂
10:52 manually hedging GOLD, as it basically stopped moving but slowly falling back to the vWap. (was probably too early)
10:59 feeling tempted to reverse the hedge on GOLD, but USDJPY still moving upwards .. where the USD is moving down, which is odd)
11:00 market lured me into reversing GOLD by spiking a few pips up, will exit the trade on breakeven.
11:36 USDJPY still above the vWap .. things are not in a save range yet, especially since the hedging did eat up all my previous gains already.
11:39 Nikkei picking up pace upwards (not much, but that most certainly won’t help the GOLD trade)
11:54 small spike downwards caused an AutoHedge (had too large size on)
12:30 giving it another try, reversing to short to a close by horizontal target arround 1315 (likely not really going to work)
13:03 exit early as the margin was at 295% .. which is not a good thing if volatility picks up. better play it safe
Total Today: +2.418%
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