Day 307: Awaiting NFP

Profit: $27.12 Total: $1,618.64

The dollar was pretty boring today, traders are awaiting NFP and it’s results. Can the NFP data save the dollar or will we see another continuation south. However, the two currencies that have been seeing much bull power this week was the Aussie dollar and New Zealand dollar. The AUD/USD making it’s year high and still showing no signs of weakness. The pair even went off grid and I need to make support and resistance lines for the region it’s filtering at.

Although the dollar’s movement wasn’t interesting, oil had a nice move down. I took the opportunity to trade long GBP/CAD to passively trade oil. The pair had a nice triple bottom so when oil started to move south, I triggered longs. My start was rough today but found a nice opportunity in oil. What I want to see is a spectacular data in NFP which results in a stronger dollar. Shorting the EUR/USD at this price will be juciy.

Something simple, got a nice long on the triple bounce. This support area has proven strength in even higher time frames.



Day 306: Where are you going to bounce?

Profit: $14.31 ($200) deposit Total:$1,591.52

Decided to deposit $200 onto my account for the upcoming month because FXCM requires a capital minimum.

The dollar decided to give in a bit but had a nice bounce mid session. Oil continued to fall despite a bullish inventory number. Compared to yesterday, movements were a lot more gentle and tamed. I can see the dollar ranging until Friday where NFP will be released.

Had a short dollar position running which I closed for profit and reversed. It had a nice bounce on a support ,however, I don’t think it’s a full on reversal unless NFP comes out great. I dabbled in a NZD/JPY short with a long USD/CAD from the falling oil. All in all, quite day.

Day 305: Safety first

Profit: $53.93 Total: $1,377.21

Yellen is famous for her dovish rhetoric and thus has a way of bringing the dollar down. She reminds me of a overly protective mom or grandma who’s priorities are safety first. Yellen’s speech at the Economic club brought the dollar down resulting in a volatile market reaction. Her dovish speech mentioned about caution in rate hikes, low inflation, mixed U.S data, strong dollar and Chinese uncertainty. At the rate we are going now, it seems like the next hike could be a bit longer than we expected.

I had a great pre NY session by shorting the AUD/USD and the AUD/NZD. I could’ve ended at decent profit and stopped trading during a dead pre Yellen market, however, I chose to position a couple short dollar trades with a tight stop loss. It’s no surprise of a dovish Yellen so I thought it was a position worth taking. EUR/USD and GBP/USD were my weapons to short the dollar against and the results were satisfying. Sometimes news trading is well worth it.

Post Yellen EUR/USD.


Day 304: Easter Monday

Profit: $4.39 Total: $1,323.28

The European banks had an extended Easter holiday. This resulted in a very thin market with unpredictable movement. London consisted of a Euro and Pound rally while NY session was completely dead. It was very hard to trade without falling asleep and the thin markets made me nervous about holding onto my positions. Tomorrow looks like a better day with all eyes on Yellen at the Economic club in NY.

Didn’t trade much at all, I rode the GBP/USD mid rally and exited for a quick profit. I’m also looking at a nice short AUD/NZD which I’m looking to hold for a bit. Today wasn’t much of a trading day due to the holiday. The question for tomrrow wouldbe dollar up or down during Yelln’s speech.

Looking to short AUD/NZD.


Day 303: Short weekend

Profit: $17.40 Total: $1,318.89

Volatility was decent despite being  a holiday for some. Good Friday is tomorrow and all the major banks will be closed. Interestingly enough, GDP is also set to release. Not sure if volatility will be juicy for the big data as markets will be closed but I’ll be sure to enter if price action allows.

I caught a nice move shorting the dollar. It hit a resistances in 12030 area where I caught a nice short by longing GBP/USD. Another move I caught was longing EUR/JPY. If there’s enough volatility tomorrow, I might just re enter another long GBP/USD, especially if GDP comes short. If I don’t trade tomorrow, I hope everyone has a great Easter weekend.

Day 302: Terror attack affecting the markets

Profit: $10.12 Total: $1,301.49

The euro and oil both had a down day today. It may or may not have been due to the recent terror attack in Brussels or just a coincidence. I’m thinking the latter because there was no immediate affect on the markets yesterday. The fall in oil was probably due to a high inventory number and the fall in euro was due to dollar buying. It’s great to see the markets unaffected by terror attacks. Shows that investors are still calm and aren’t acting on impulses.

I had the pleasure of riding the dollar bulls throughout NY session. I caught some EUR/USD shorts along with some USD/JPY longs. On top of that, I traded some NZD/CAD after the high oil inventory count. Reason I chose NZD/CAD was because of technicals. I personally think it may be too late to long dollar here, I’m expecting a pullback near the 12030’s region.

Day 301: Heart goes out to Brussels

Profit: $10.27 Total: $1,291.37

I always turn on my T.V in the morning before getting out of bed. Still half asleep, I hear CNBC reporting a bombing in Brussels and I jump on my computer to get more insight.The suicide bomber in the airport and subway was confirmed, 30 killed… My heart goes out to the victims families and Brussels. It’s so sad to see the world in such chaos and destruction. Brussels will be in my prayers for tonight.

Day 300: Better luck tomorrow

Profit: -$3.05 Total: $1,281.10

There was not much movement today and markets were quite boring. I’m not one to force any trades and I didn’t feel like scalping short movements with large positions. This week’s cut short due to Good Friday so who knows, market may get stagnant. I’ll see if I have better luck tomorrow.

Day 299: Dollar finally bounces

Profit: $0.24 Total: $1,284.15

The dollar finally had a handsome bounce today, a move I was waiting for in the past two days. As stated in my previous post, I’m still bullish on the dollar despite this massive drop. This correction seems only normal but in the future I can see the dollar breaking new highs. I just have to be patient and wait for a reaction instead of attempting to predict future moves.

I told myself yesterday that I was going to short the EUR/USD, but instead I got impatient and longed it overnight. I got hit with a series of bad trades from pulling the trigger too early. I knew deep down inside the dollar was due for a bounce, but in the split moment at 12 am in the morning, the dollar looked bear. Fortunately I was able to make back my money by longing the dollar through out NY session. Glad to end with a positive note. This week was a sloppy week for me. Time to focus.

Day 298: Dollar goes down

Profit: $8.71 Total: $1,283.91

Didn’t trade yesterday as it was slow and chaotic once the Feds spoke. Rates stayed unchanged however, the plans of rate hikes are changed to 2 times this year instead of 4. Although, compared to other economies, it’s a hawkish statement, the dollar went down hard. Global risks and market volatility are making the Fed’s more hesitant.

I had small scalps of longing GU but closed out my profits. I didn’t love my late entry to hold it overnight as I got in mid rally. I may or may not go for a short EUR/USD during London due to a nice R/R but I’m not sure if I’m ready to long the dollar just yet. Although the dollar did fall, it’s still due for a rate hike.