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Trading Update – The markets are not being very kind at the moment.

The markets are not being very kind at the moment, but we are still holding our own.

Yesterday we took 2 trades. First trade of the day was AUD short which we closed for a 5 pips loss. Yes you heard me right. I had a losing trade yesterday. I took a nice set up short on AUD which looked very promising until the Euro dollar and Cable dollar suddenly spiked to the upside. I had typically lost my news feed, which does not happen very often, so i quickly closed my trade in case there was some price sensitive news released. The AUD quickly followed the other dollar pairs to the upside by around 20 pips and then over the next couple of hours came back to what would have given me a nice 20 pip profit. 🙁

On the plus side of that spike, my pending short order on Euro got hit at 13070 which we shorted down to 13047 for 23 pips profit.

Today we had a much better day. We took 3 trades.

First trade of the day was EJ long at 10694 up to 10624 for 30 pips.
Second trade was Cable short at 16123 down to 16093 for another 30 pips.
We also took AUD short at 10477 which we closed for 5 pips. That trade did not really play out as i expected, so i closed it. AUD has been pretty strong all day due to the interest rate cut that was announced in the Asian session.

I think we will have a good day tomorrow. I am expecting some decent moves. 🙂

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