Friday, September 30, 2016

Week in Review: 26 Sept to 2 Oct 2016

This week was profitable. I opened two trades, winning one and exiting another at breakeven.


I saw a good sell signal on the GBPNZD on Monday morning, and went short at Friday's high. Price moved in my favour quickly, and I took profit at 1.1R. I thought about extending my profit target, but didn't want to get too greedy.


The EURGBP hit resistance at 0.87000 this week, and produced a bearish signal. I went short at the break of Tuesday's low. 

However, Wednesday produced a neutral doji. When Thursday failed to break any lower, I decided to play it safe and exit near breakeven (technically it was a loss, but only -0.08R). Wednesday's neutral candle and confusing signals on other GBP pairs compelled me to exit while I was still able.


I continued to keep my risk low this week (0.5%-1% risk per trade). The week was uneventful, which is a good thing.  

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