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Tag Archives: forieng exchange

One of those much looked at economic data for the UK since it is a services economy.

I decided to place my straddle with the following details: –

Stop if Offered at 1.3175, Spot at 1.3197, Stop if Bid at 1.3215

Data came out mixed; claimant count was done, but job creation was poor, unemployment rate held constant at 4.3% and average weekly earnings edge upwards.

Market initially stayed quiet not knowing what to make of it and then it started selling off the GBP, I suppose the market took issue with the poor employment change or job creation data.

It triggered my Stop if Offered leg and I follow the market till I felt there was no more steam so I decided to square the trade at 1.3140 for a trading profit of 35bps.

Ok lah……….not too bad for the start of trading this week after coming back from a driving holiday in Malaysia……………..eat and drink.

Given UK’s preoccupation with the Brexit and firms pulling out, I felt that the manufacturing numbers were probably going to be weak.

So decided to put in my GBPUSD straddle with the following details: –

Stop If Offered at 1.2440, Spoat at 1.2460, Stop if Bid at 1.2480

All the data came out weak, and it triggered by Stop if Offered leg, but for some reason the GBP seemed resilient, so I decided to square the position at 1.2400 for a trading profit of 40bps.

Pursuant to my thoughts on the new trading channel for USDJPY, I decided to Short USDJPY at 104.45 five minutes ago.

Let’s see what happens?

By the way, this is a cash transaction, no leverage involved.