Apologise for the late posting here. I was on my Facebook posts and just this morning I realise that I didn't post the idea here on Trading View
AUDCHF completed a bullish bat last Friday and I took the long trade at 0.7090. It was hovering in the negative profits until the close of the close of the week. This morning move looks more promising and currently sitting on +25pips
Probably looking at 0.7250 levels for the first profits. Monitoring closely to exit if this starts rolling over.
Trade active
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The Aussie Monetary Policy Minutes helped push prices higher. Shifted Stop Loss to break even, the trade is now a risk free trade.
Setting targets @ 0.7320, let's see where this trade takes us
Trade active
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Took some profits at 0.7160 for +70pips and protected the rest of the position with Stop Loss of 0.7115 (+25pips protected). Still targeting higher
Trade active
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Aussie Employment news coming up at 9.30am Singapore time.
Trade profits already protected with +25pips profits minimum on the second ticket. I will let this trade run through the news. Update again in an hours time.
Note : These are my 3 principle things I would do just before a major news release 1. If I am not yet in the trade, I would just give it a skip. News release, to me, is a 50-50 chance 2. If I am already in the trade and is at about break even, I would sometimes exit the trade with a small los or profits or even at break even. 3. If I am already deep in the money, I would tighten my stop loss and stretch the targets.
Trade closed: stop reached
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Second ticket closed off at the stop level of 0.7115 (+25pips). First batch (+70pips).
Although the Employment data was better than expected, Aussie still drifted lower. AUD could be more bearish than I originally thought.