Day 165 + 166: End of GU and EU drop?

Profit: -$11.81 Total: $914.80

I didn’t have time to trade much yesterday due to being on a family vacation in Washington D.C. Because I wasn’t in front of the computer, I had some messy trades in, which didn’t end so pretty. The losses were pretty bad because I hastily placed my SL, and put it too far by mistake. The dollar continued to power through resistance above and rallied overnight.

Luckily this morning, I was back home and trading in my room. I was able to profit off by longing dollar in NY opening, then shorting it towards the evening. Interestingly enough, it did look like EU’s and GU’s plummet finally came to a halt. While I’m still unsure whether it’s a reversal or a temporary bounce, dollar is almost at it’s previous peak and is at an important structure. So currently, dollar has run out of steam and is due for a pullback; or it’s just catching it’s breath from the long marathon, however, dollar pairs are starting to look long.

One trade I’m still in is a long AUD/USD trade. The price fell down hard from Black Monday, made a huge wick on the bottom, then shot a bit back up. I spotted a Head and Shoulders pattern trade and got a nice entry in. I have my trailing stops activated and will take profit at the end of the blue line, which is also a 200 MA resistance.

Screen Shot 2015-08-27 at 2.40.16 PM


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