Oluwawithin

Oluwawithin Updated 

So went short on this @ 1.31156 and 1.31232. Market orders so didn't get exact entry. Original Trade Idea was to short at t-2 from month-end and quarter-end close, where very common to see USD strength. Was also in direction of major trend. So I closed this GBPUSD short out, and reversed long, especially as I just read AM/FX saying that normal USD flows may not...

Oluwawithin Updated 

Had this as a limit order in for a couple of months. Finally triggered today. 0.93% Risk, both legs : 186bps risk TP1: 1.12% TP2: 1.88% 186bps/300bps is not a great RR Ratio at all. Adjust trade based on daily candle close.

Oluwawithin Updated 

Small position on this company from 35.78 NOK. SL at 29 NOK, risk of 100 bps. Might be in too early for further run up for a few months, given the chart.

Oluwawithin Updated 

Looking at natural gas long. Placed limit orders on Sunday before market open. Not filled so far, tempting to move limit order up.

Oluwawithin Updated 

Euro on potential trend change in weekly and daily.

Oluwawithin Updated 

Potential weekly bottom, but has a lot of work ahead to grind higher. Technicals look close for a breakout, and recent dollar strength obviously helping. Is dollar strength sustainable, now dust settled on Powell decision etc?

Oluwawithin

Base metals mines and exploration, tin and copper. I'm long from 0.36c.

Oluwawithin Updated 

Short in AUDNZD. FInally got in on trace back to the newspivot level. The newspivot being the price just before the RBNZ Central Bank policy announcement on 26th May. The Reserve Bank left its monetary policy settings unchanged, with the OCR remaining at 0.25%. However, the tone of the statement was more hawkish than we expected. For the first time in over a...

Oluwawithin Updated 

Took long on NZDJPY on Friday 2021-06-04 20:52:23 after NFP.

Oluwawithin Updated 

Pending Order Filled at 27.65 on 2021-05-19 18:19:30. Good order fill on retracement, dropped lower before holding above 27.65 for last 3 days. Big sell off from 28.55 overnight, presumably more on dollar strength across the board.

Oluwawithin Updated 

Been in this trade since 15th May. Not been a great trade as struggled to go higher. Risk is on 0.49% as it is, but even so, not much point giving more away as dont think I want to hold onto trades for too long, if they are not going anywhere or I don't have a strong fundamental bias.

Oluwawithin Updated 

So also long on a pending trade in GBP weakness last night. At start of equity US open all GBP pairs moved down a bit. As risk across 4 trades is 6.87%, going to adjust risk on some of these as my trading plan is max 6%.

Oluwawithin Updated 

So put pending order in after big GBP move and waited for retracement. Largely the same trade idea for all 3 GBP trades that I am now in. As per other ideas, need to adjust stops to reduce the account risk, especially with 3 highly correlated GBP trades. Currently risking 6.87% of my account, which is above my limit of 6%.

Oluwawithin 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...

Oluwawithin Updated 

Shouldn't follow recommendations, and it is against trend! The reasoning for me is that it is near a multi .near low at 1.2000, if breaks is likely to drop fast. Morgan Stanley recommendation. They think global reflation is largely priced in, US growth outperformance relative to Canadian growth (and higher US real yields) are consistent with USDCAD gains. The...

Oluwawithin Updated 

Bought 58 ADA for around $1.40 on March 16th 2021. When trade had strong close above $2.00 (new high), put Buy Limit order in for another 43. Got filled on May 7th 2021. Average net cost $1.64. Currently 36% up. Close below $2.00 should exit.

Oluwawithin Updated 

This trade is still off the BOC decision and tapering. This is a follow on from previous long CADJPY trade that I got out on break even earlier. Entry was roughly middle of 68.2% fib of jump on BOC decision. Entry not too bad, but significant support turned resistance at 86.65/70. Last 2 days sell off over Asian and London Session, then North American trade...

Oluwawithin Updated 

Quick read of an article by Adam on Forexlive on CAD. www.forexlive.com Seems to be contrarian to the market at moment, with move out of range expected to be higher. This is because CAD is a net exporter so as worldwide opens up, export sales increase, as well as production etc. Has been in a range for 2 weeks with 86.50 acting as support.