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Intraday Trading Review [April 12-15, 2010]

by Rafael Rosa on April 15, 2010

investment losses Intraday Trading Review [April 12 15, 2010]Yes, mistakes were made. On a realized basis, I’m roughly flat for the week. While my recent trades have worked out well, the EUR/USD and EUR/JPY (x2) trades that were held over the weekend just killed me. As mentioned in the last intraday weekly review, it was the wrong decision to keep them.

The short AUD/CAD and NZD/USD trades are still in the red; however, they are very small, longer-term positions.

FX markets have been generally choppy this week and no direction has been established. The EUR/USD is still floating around as the Greece bailout issue is still unresolved. The AUD/USD does not know whether it wants to break above .9350.

On the other hand, the Pound has been showing some strength and is more likely to appreciate vs the dollar. I would look to play the pound through the EUR/GBP cross and target the .8700 level, maybe .8650 for the aggressive traders.

Other things to watch:

1) AUD/CAD wedge on the daily chart.

2) (Weak) EUR/GBP Head and Shoulders on the daily chart.

3) Inverted Head and Shoulders on the GBP/JPY hourly chart.

4) EUR/USD support at 1.3500

4) AUD/USD resistance at .9350

5) Greece bailout news, Greek CDS, Greek bond yields


Here are the trades that were posted on StockTwits and Twitter from April 12-15, 2010:

Short EUR/JPY from 125.00 closed at 126.06 for -106 pips

Short EUR/JPY from 125.60 closed at 126.06 for -46 pips

Short EUR/USD from 1.3430 closed at 1.3554 for - 124 pips

Short EUR/USD from 1.3664 closed at break-even for 0 pips

Long USD/CAD from .9993 closed at .9960 for - 33 pips

Long USD/CHF from 1.0511 closed at1.0550 for +39 pips

Short EUR/JPY from 127.32 closed at 127.00 for +32 pips

Long USD/CHF from 1.0505 closed at at 1.0600 for +95 pips

Short EUR/USD from 1.3672 closed at1.3556 for +16 pips

Short GBP/USD from 1.5487 closed at 1.5468 for +19 pips

Short AUD/USD from .9350 closed at .9328 for +22 pips

Short EUR/GBP from .8802 closed at.9757 for +45 pips

Short GBP/JPY from 144.85 closed at break-even for 0 pips

Short GBP/USD from 1.5500 closed at 1.5470 for +30 pips

For a loss of 298- 309 = - 11 pips; total for the week: -11 pips

In the books: Short AUD/CAD (.9288  .9218) and NZD/USD (.7162).

Technorati Tags: Currency Trading, day trading, eur/usd, euro dollar, fx trading, GBP/USD, intraday trading, performance, pip loss, pound, trading review, us dollar

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