Message 51

I entered another 2 trades on Friday and one on Sunday night...I exited all three at 2am this morning for a new profit. The USD has started to retrace throughout Asia and although I might have missed a fair few pips on the EUR/USD trade, I'm happy with banking some profit after last week, plus I need some sleep and dont want to wake up and see the price bounce back up again.

The JPY is strengthening so I've exited he CHF trade for the time being but am watching the trendline and the USD trade has a higher risk of a break down than it does of a decent retracement so I'm glad to be out of that trade.

I'm sitting on the sidelines at the moment and am in nor rush to take a trade. I rushed into trades which were too risky last week and am planning to revert back to the more patient style of waiting for the good setups to come my way.

The Euro might break through recent resistance in the low 1.4500's but I'll be a buyer when / if it hits the previous resistance turned support area.

There is potential setups in the CHF/JPY, GBP/USD and NZD/USD which are all near support lines...but I'll be watching for some price action before entering these trades and only if they are A+ setups.

Trade 29

Sep 11 - Long USD/JPY - 15k units @ 90.9150 - 151pip SL - 1.50 capital at risk

Closed @ 90.589 (sep 14th) / -33pips / -£32.50

Trade 30

Sep 11 - Short EUR/USD - 53k units @ 1.4602 - 53 pip SL - 2.50% capital at risk

Closed @ 1.4530 (Sep 14th) / +72pips / +£230.43

Trade 31

Sep 13 - Long CHF/JPY - 25k units @ 87.20 - 56pip SL - 1.50% capital at risk

Closed @ 87.00 / -19pips / - £32.10