29/1 – 2 winners + 1 loser on FOMC Day

I put three more trades into my CMC account on FOMC day.

Two of these were on Cable (the GBP-USD currency pair) – it was interesting because the first trade was long (I was buying the currency pair), and the second trade was short (I was selling the currency pair).  In yesterday’s post, I had shown how I see the chart on the 1H timeframe.  This showed that price was at the top end of the consolidation range – hence both long and short trades were possible depending on the price action.

cable jan-fomc

The third trade was on the DAX.  The 1H trend was still bullish and price was trading at key level around 10,600.  I was rather lucky with the stop placement here (just below the 10,600 level).  As you can see from the chart, price went as low as 10,606 – nearly 30 points against me – before it started its upward path.

dax jan-fomc

So, all in all, that was a good day in terms of results – losing 0.59R on Cable, then winning 0.95R on Cable and 1.54R on the DAX – for a net gain of 1.9R.  I wasn’t very productive whilst managing the trades – didn’t continue with my testing in the simulation software.  But had some good chats with my trading colleagues along the way, too.

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