Trade 3: Long AUDNZD (-20 pips)
A longer term prediction may be about to get going, Price has bounced of my inflection point suggesting a turn may be at hand, a smal new high was enough to trigger an entry. SL is quite large so position size is smaller than usual. It has been a bit of a waste of a day so far with trdes closing without gain, hopefully this trade will do better.
Trade 2: Short GBPAUD (+35 pips)
This was good timing,trade 1 for the day went risk free as it passed 35 pips and shortly after GBPAUD made a nreak to the downside, taking out the purple channel and the red trigger line. This set up, trading a pullback ismy favourite short term swing trade looking ofr around 35 - 50 pips. I would not have been able to take the second trade if the first had not been risk free, they are essentially the same. AUDNZD appears to be heading higher and that trade is a medium term prospect with my wave system. I will be looking to trade thatone soon.
Trade 1: Short GBPNZD (0pips)
Trade of the day was short GBPUSD, this was my alternative and it triggered when price broke lower confirming a 1-2-3 reversal pattern which is one of my favourite confirmaton patterns of a short term change in direction. The trade is clearly short term but of late it has been so volatile that it could pick up, or lose, a lot of pips quickly. The NZD is looking strong across the board and as long as the current USD weakness continues the NZD will remain strong, I do have a long term NZDUSD on my agenda but it needs to pullback first. The GBP is in a bind, political risk abounds and economics do not look great, shorting the GBP wil likely me mymantrad for June having had buy the yen pairs in may.
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