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Intraday Weekly Review [April 4-9, 2010]

by Rafael Rosa on April 13, 2010

Alright, I made a bad decision in keeping my EUR/USD and EUR/JPY shorts over the weekend. The odds of an “agreement” on the Greek bailout was big and I knew it. The only reason I kept the positions is because they were very small (And we’ve been told this before). Nevertheless, I could have put on more shorts on Sunday if I did not have these positions from Friday.

As of now, most pairs have filled the weekend gaps. The best trade I’ve had in a while has been a short AUD/USD from the .9380 level when the market opened on Sunday. I was not on StockTwits at the time of the trade and decided to keep the trade to myself. If you’ve been keeping track of my trades and posts, I’ve been pretty bearish on the Aussie’s upward movement. A short at .9380 was all I could have asked for. I’m still short and the pair is hovering around .9230. I’m looking to cover in the .9200-10 zone.

As of now, I’m probably looking to cover EUR/USD at the 1.3500 level, AUD/CAD at the .9200-20 levels, EUR/JPY at 125.00, and NZD/USD at .7160.

These trades look better than they did on Sunday night, but I’m looking to take some risk off the table and re-evaluate my positioning.

I probably won’t be posting all of my trades this week due to my school work overload. I graduateĀ  in 6 weeks and there are quite a few things that need to be done.

It’s going to be an exciting week for U.S. equities with some juicy earnings coming out.

Here are the closed trades that were posted on StockTwits and Twitter on Friday, April 9, 2010:

Long USD/CAD from 1.0021 closed at1.0069 for +39 pips

Short CAD/JPY from 93.09 closed at .9272 for +37 pips

For a total profit of 76-0= 76 pips; total for the week: 76 + 123 = 199 pips

Cumulative tracked pips = 199 + 662 = 861 pips (3 week time period)

Still in the books: Short AUD/CAD (.9288 & .9218), NZD/USDĀ  (.7162), EUR/JPY (125.60 & 125.00), EUR/USD (1.3430)

Technorati Tags: Currency Trading, eur/jpy, eur/usd, euro dollar, euro yen, fx trading, gbp/jpy, GBP/USD, japanese yen, performance, trading review

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