if you followed my previous trades, i have been waiting to short USOIL on rallies and i am already in trade, averaging my SELL, as it went higher.
Was not expecting a sharp drop last friday, i wanted to keep adding SHORTS to my trade since i just free'd up more margin from the NZD trades, but the drop happened and i can't complain.
I am not taking profit yet, will continue to add SHORTS if it rallies to 57/58 but to me, it looks very bearish.
I will hold until 52-53, adjusting based on how this week goes.
UPDATES:
GOLD:
I am also still bullish on gold, although my gold trade is in 40-50 pips loss at the moment.
I was hoping to buy more but it did not go low enough for me to justify using more margin for the gold trade. I will certainly buy more if it dips around 1400. But i will hold onto the GOLD longs i have and not change that.
NZD/CAD - NZD pairs:
Took a good amount of profit on those trades, but i am still bullish so i still have some LONGS on NZD pairs, especially NZDCAD
AUD/CAD - AUD Pairs:
It did not go up as much as NZD so I have only taken partial profits, but i am bullish on AUD long-term, for a big correction upwards. So I am using this opportunity to buy and average my trades lower, so that when the bullish correction/reversal comes, i will be in big profits. Look out for AUD/CAD, AUD/JPY, AUD/USD - i am primarily targeting those 3 AUD pairs. The bullish bounce may not come for few weeks or even 2-3 months, or it may happen this week. Patience is key
GBP/JPY - GBP Pairs:
Bullish on GBP still. As i said in my GBP/JPY trade, buy on dips, i am bullish on GBP but not so much that i would suggest buying at the current prices with large margin. I would advise to buy GBP pairs on sufficient dips (200-300 pips). It may not dip at all, and fly up, in that case, move on to the next trade. I say this because GBP is one of the most volatile currencies and i am not going to enter GBP trade unless i can buy at a low price
Was not expecting a sharp drop last friday, i wanted to keep adding SHORTS to my trade since i just free'd up more margin from the NZD trades, but the drop happened and i can't complain.
I am not taking profit yet, will continue to add SHORTS if it rallies to 57/58 but to me, it looks very bearish.
I will hold until 52-53, adjusting based on how this week goes.
UPDATES:
GOLD:
I am also still bullish on gold, although my gold trade is in 40-50 pips loss at the moment.
I was hoping to buy more but it did not go low enough for me to justify using more margin for the gold trade. I will certainly buy more if it dips around 1400. But i will hold onto the GOLD longs i have and not change that.
NZD/CAD - NZD pairs:
Took a good amount of profit on those trades, but i am still bullish so i still have some LONGS on NZD pairs, especially NZDCAD
AUD/CAD - AUD Pairs:
It did not go up as much as NZD so I have only taken partial profits, but i am bullish on AUD long-term, for a big correction upwards. So I am using this opportunity to buy and average my trades lower, so that when the bullish correction/reversal comes, i will be in big profits. Look out for AUD/CAD, AUD/JPY, AUD/USD - i am primarily targeting those 3 AUD pairs. The bullish bounce may not come for few weeks or even 2-3 months, or it may happen this week. Patience is key
GBP/JPY - GBP Pairs:
Bullish on GBP still. As i said in my GBP/JPY trade, buy on dips, i am bullish on GBP but not so much that i would suggest buying at the current prices with large margin. I would advise to buy GBP pairs on sufficient dips (200-300 pips). It may not dip at all, and fly up, in that case, move on to the next trade. I say this because GBP is one of the most volatile currencies and i am not going to enter GBP trade unless i can buy at a low price