Nov19 – Market Analysis

Personal Reflections & Position Management

I closed both S3 trades around 9.30pm last night.  At the height the combined gain on the two positions was +1.5R [I had moved the stop to BE around that time].  When I closed the positions they were up +1R.  With rollover/wide spreads at 10pm and AUD news at 0.30am, I decided that it was better to take the trades off the table.  With the benefit of hindsight this turned out to be the correct decision as both pairs reversed the movements throughout the night.

I am still feeling sick (and tired).  Third day in a row.  It never used to take me this long to recover, and I didn’t get sick this often as I do now.  It was only a month ago that I was sick for five whole days!

Equity Markets

No big changes on the equity markets yesterday.  Nikkei continues to be volatile, retracing from it’s strong last week.  Dow and S&P are at key 16,000 and 1,800 levels – broke through yesterday but couldn’t close above them.

FX Markets

No change in the STAM points.  The pairs with S1 setups are the same as yesterday.  There are no S2 setups.  No valid setups on any of the Yen pairs.  No valid setup on any of the other S1 pairs either.

S3 setups

As discussed I exited the AUDCHF and EURAUD trades from yesterday, with small profits in each one, making a total of 1R.  There are now new setups following on from the 11am candles.

Next action

At 3pm, check GBPCHF for a corn trade.  Check AUDNZD at 3pm for a S3 setup.

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One Response to Nov19 – Market Analysis

  1. 3pm update : AUDNZD sets up, trade entered on FXCM platform. nothing done on GBPCHF.

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