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.
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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.
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.
I felt that the GBPUSD was bottoming, based on Fibonacci; the recent high was 1.6795 and the recent low was 1.6273 with the spot of 1.6560 hovering just above the 50% retracement level. Again coming up from a lower level a few days ago at the near 38% level.
The uptick seemed somewhat convincing and I also felt that the retail sales numbers today would come in better, so I placed a Long GBPUSD, stop if offered at 1.6580 when the spot was at 1.6560 with a SL at 1.6550.
As it turned out the retail sales came in firmer at 1.7% versus expectations of 0.5%, and the GBP firmed up passsed 1.66.
I squared the position at 1.6620 for a trading profit of 40bps.
It’s interesting how the forex markets can really give our hearts a good workout!
Gladly, I bought a call option on the GBPUSD and was prepared right at the get-go, to lose the premiums of 46bps.
As you will recall, I did the trade on January 14th; struck at 1.6390 with a breakeven of 1.6436. After I did the option the GBP started to turn down to 1.6312 on January 16th.
Like all traders, while I was happy to lose the premiums that I paid for the option, the little guy at the back of your head always wishes that the analysis on your trade is correct.
On the fateful day of January 17th, the GBPUSD miraculously moved upwards based on very strong retail sales. It moved all the way up to 1.6458 during London morning.
My option was due at 10am NY session or 10pm Singapore time. NY opened with GBPUSD still staying quite firm and my option was eventually closed at 1.6449 for a very tiny profit of 13bps. I am just happy I didn’t have to forgo my premiums.
The GBPUSD did a wonderful see saw roller coaster ride from Friday last week with the weak NFP numbers. Initially, it strengthened about 100bps, then on Monday in the afternoon, it took a nose dive from 1.6500 to 1.6350. From this morning, the GBPUSD was making a slow comeback grind from 1.6350 to 1.6390 in Asia session.
The Ichimoku and stochastics indicated that the GBPUSD was primed for a move back up. So I decided to buy a call option struck at the money spot of 1.6390 with a premium cost of 46bps, expiring on Friday, January 17th and a breakeven of 1.6436.
Right now in the US morning session, the GBPUSD is holding steady at 1.6435. Well, let’s see whether I am right or not.
My charts looked great in the evening of December 11th, with the Ichimoku and Stochastics indicating a potential short opportunity in the GBPUSD.
So I executed a Short GBPUSD at 1.6390, stop loss at 1.6410.
An hour later I took profit at 1.6363 for a trading profit of 47bps.
My charts; Ichimoku and Stochastics indicated a possible break up of the GBP, it started at 1.6340, at 1.6350 I bought GBPUSD with a SL at 1.6330.
Today, it hit a high of 1.6462 and I decided to lock in my trading profits and sold the position at 1.6447 for a very handsome 97bps.
Nice Christmas present.
My charts set up a potential short trade on the GBP based on Ichimoku and Stochastics.
I decided to short the GBPUSD at 1.6371 at about 4:45pm and I squared the position post BOE at about 8:50pm at 1.6333 for a decent trading profit of 38bps.
However, it’s past midnight here in Singapore and the GBP has continued to soften to 1.6320………oh well……at least, I still locked in a profit.
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