Live Trading the Currency Markets

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petrified markets......as per our situation here..not bad, but not good either.......oh well

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thing is with the last euraud short trade that the previous move to the upside that made that new high was channeling too well....so what I did I waited for a five waves swing to the downside, booked the profit on it, and then resold on the pullback.....quite classical, nothing fancy involved, it remains to be seen how effective it is

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here's the standing going into Friday's trading day.......all open positions are in the red.....crap

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Trade nr. 9 Going SHORT AUDUSD AT MARKET HERE IN 0.9177 SL 0.9320 TP 0.8920

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closing trade nr. 8 the short on euraud here in 1.4227 for a nice 81 pips profit

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booked the euraud short for a nice profit......now rest of the opening trades are in red, but stop losses are not touched yet, and that means invalidation levels still hold

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Trade nr. 10 SHORT EURAUD HERE IN 1.4273 FOR 1.3900 TP SL 1.4500

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the logic behind this trade is that we're still probably in an irregular flat, and now looking for price to move below the 1.3900 level where the a wave red ended.....check the previous analyisis posted on the pair

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stoped out on the eurusd short trade....oh well

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trade nr. 11 going long gbpcad here in 1.5825 sl 1.55 tp 1.6099

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Trade nr. 12 Going SHORT EURUSD HERE 1.3199 sl 1.3250 tp 1.3128

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here's the standing after being stoped out on the eurusd short with yesterday's spike........re-entered now, on the fundamental thesis that the PMI's in Europe are going to disapoint today

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exiting audusd short trade here at breakeven

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Trade nr. 13 Going LONG NZDUSD here in 0.8038 for 0.8300 tp sl 0.7680.........not a nice rr ratio but still.......

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here's the chart related to the last trade in the nzdusd position.........basically contracting triangle acting like a reversal pattern, triangle broken, retested, rejected beautifully..........an now looking for 0.8300 tp

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going negative for the month as eurusd was stoped out.......situation in the attachment

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closing usdjpy short trade from 99.55 here in 98.06 for a nice 149 pips profit

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closing eurjpy short trade from 130.50 here in 130.30 for 20 pips profit.......need to reanalyze this pair

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closing nzdusd long trade from 0.8038 here in 0.8077 for 39 pips profit

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booking profits never hurts, especially on a Friday evening......going light into the weekend and positive for the month so far......

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here's the updated situation.....only two trades open now, +170 pips profit booked

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closing EURAUD short here for -69 pips

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Going LONG euraud here 1.4356 for 1.4458 tp sl 1.4180

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Will get back tomorrow with the logic for the trade

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the reason I closed the short and entered long on the euraud is this ending diagonal needs to make a new high for completion.....1st wave extended, now looking for the fifth to make new highs and then I will turn bearish on the pair......it remains to be seen