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Monthly Archives: July 2014

My charts; Ichimoku, Stochastics and MA tell me that there is a potential short term breakout upwards for the EURUSD.

So I decided to buy a one day option expiring tomorrow 25 July 10am NY time, strike at 1.3470, premium of 20 bps and a breakeven of 1.3490.

On 3 June, I felt that there were strong headwinds threatening the EURUSD, plus my bollinger bands were clearly oversold.

So I Short the EURUSD by placing a Stop if Offered at 1.3580, when the spot was at 1.3606 with a stop loss of 1.3600.

The trade was never triggered and I decided to take out the trade before I went to sleep.

In hindsight, guess what?  The EURUSD did correct, but only 5 June tumbling to 1.3502……….what a waste, should have continued to monitor the market, but I was out that night having dinner with group of friends.

At about 4pm on 3 June, I bought a call option on the GBPUSD at the strike of 1.6745, premium of 47bps and breakeven of 1.6792.

On 10 June, just before London opened I squared the position at 1.6820 for a trading profit of 28bps.

At about 4pm on 11 June, I noticed some activity in the GBPUSD after London opened.  I decided to play my hunch and Long GBPUSD at 1.6785, stop loss at 1.6770.

For the next hour, it didn’t do anything and finally I squared the position at 1.6795 for a trading profit of 20bps prior to leaving the home.

On June 11th, my Ichimoku and Stochastics suggested that the GBPUSD may go up.  So I decided to buy a call option with a strike at 1.6755, premium of 31bps and a breakeven of 1.6786.

I squared the position on 13 June during London hours at 1.6974 for a trading profit of 188bps.

Not bad for a two day wait and one of the few good trades.

My Ichimoku suggested that the EURUSD was bottoming out on 22 July, so I decided to do a two week call option on the EURUSD at the strike of 1.3485, with a premium of 65bps and a breakeven of 1.3550 expiring on 8 August.

Let’s see how things pan out.

Prior to the announcement of the MPC votes at 4:30pm, GBPUSD started moving from 1.7060 all the way up to 1.79095.

Votes came out as expected and BBA mortgage approvals also came out as forecasted.

GBPUSD began to softened thereafter. I decided to short the GBPUSD at 1.7070 and squared the trade at 1.7035 for a trading profit of 35bps.

Apologies to all for not updating my trading blogsite for the past few months, it has been hectic with family issues. I will endeavor to put in all the past trades and also keep up to date.