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Ok….. 20hrs no sleep….. quick trade idea in the FX space


Rintel

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I’ve been monitoring the AussieDollar cross all day . And I think from this level a short term long position looks good. 
I was short but as I refreshed my tools , I was persuaded long. 
the volatility is dropping plus negative returns are decelerating . Already 5% up in the green . Will see how it plays out tmrw . On a macro fundamental level yes growth is slowing which should favour  a stronger dollar but I think this is a short term bounce before the trend continues downwards. Also should PMIs prove bullish this month , I think it puts more pressure on the dollar.
That’s it from me taking my **** to bed. Should be able to get 2 hours of snooze  in before work . 
Good luck out there today.
 

C

Edited by Rintel
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    • Hi, sorry to be too late but a reminder that for when the market moves against your week day position over the weekend consider a hedging position in the weekend market in the opposite direction to your weekday trade so that overall your PnL remains fixed.
    • I don’t think you can as the market is closed - I’ve researched this and if “slippage” occurs and you have a “normal stop loss” which happens to be lower than opening price then you get executed at opening price, (which I guess is 11pm tonight)  apparently you need to select “guaranteed stop loss” to allow yourself to guarantee a stop at your chosen price.  fingers crossed. I’m in too deep really, it’s been an awful weekend worrying!!🤦🏼
    • Hi Rob, pretty sure you can still change your stop loss or take it off entirely, if that was something you wanted to do, just go into positions and adjust or if you wanted to take off you delete and press return, good luck with whatever you decide 
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