GBPAUD Long - Multiple Positions
Updated
So I feel the introduction of Financial Source as a service is really putting forex/macro trading in perspective.
Why am I in this trade?
So following BOE and comments by speakers the GBP is Strong Bullish.
The Financial Source Fundamental Drivers has this as bullish.
Conversely AUD is reported as Weak Bullish.
Not a great pair to match, but overall GBP strength is stronger.
My entry was back into support, it took 5 days to hit initial target (without me in it!) and then return to me entry.
Why am I in this trade?
So following BOE and comments by speakers the GBP is Strong Bullish.
The Financial Source Fundamental Drivers has this as bullish.
Conversely AUD is reported as Weak Bullish.
Not a great pair to match, but overall GBP strength is stronger.
My entry was back into support, it took 5 days to hit initial target (without me in it!) and then return to me entry.
Trade active
Major Concern with this is that I had multiple pending orders in correlated pairs, i,e that are paired with GBP.I am also Long in GBPJPY and short EURGBP. All entered on pending orders due to large drop of GBP yesterdays session. Just starting to document these now, so will review others and look at moving some stops up to breakeven to reduce risk.
Trade active
SL upto 1.81880, risk now at 1.32%
Trade active
TD Securities Report suggest short of GBPAUD just published.They are saying that they feel that with risks of "3rd Wave" of cocid starting to build, that the priced in UK vaccine optimism maybe priced too high.
There trade recommendation is Short at 1.8333, TP 1.8060 and SL 1.8560.
This would seem to be a longer term trade, GBPAUD is at 1.8300 at moment, 30 pips from their entry.
Trade active
Given risk on my account with these correlated trades of 5.06%, I am movinf the one to break even, as hoping for support to kick in at 1.8320 if retracing.This will move my risk from 5.06% - 1.32% = 3.74%.
GBP also got leg up due to better than expected composite and services PMI.
Trade active
Trade active
Closed half on 1.83767 for 0.7% profit.Trade active
Moved SL upto 1.83491 to lock in profit.
Very close to TP, tempted to move remaining TP up higher only 9 pips off it, but stick to the plan.
Trade closed: target reached
Target reached for remaining portion for 1.3% profit. I am now flat.Still have EURGBP, GBPJPY and USDCAD all long at moment pre NFP.
Comment
Closed half on 1.83767 for 0.7% profit.Target reached for remaining portion for 1.3% profit, lucky trade!
Comment
Was really lucky with this trade, got TP before retracement.
Comment
Tempting Buy back in if I am still bullish GBP, bearish AUD.Disclaimer
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