Structural FX, page-97

Good morning all,

Apologies for not sending this through on Sunday, I'm trying to keep weekends screen-free as much as possible.

Here's my thoughts for the week.

GU. Already in this trade. I closed my second position to limit risk as it was entered on Friday and always get a little hesitant holding over the weekend.
Previously I stated that I was risking 77pips for 120 reward (1:1.5 R:R) and some of you might have scratched your head over this. Here's how I trade; once it moves in my direction and the bottom of the swing has been found, I move my stop up to achieve a better R:R ratio. As you can see, how good is this risk to reward!!? (1:9.2 risk:reward!!). This trade is now risking next to nothing on both live accounts (I use a trade copier to mimic trades from the master account to two accounts with different balances). I now don't even look at it. It either stops me out for a minimal loss or it hits my profit.

I'm also watching EU for a short-term pop. We've seen some sideways action on the larger time frames for a while now (as we're hugging the 200ma on the weekly) and recently a strong push downward and some buyers coming in (grey box) so might see some range-bound action at the start of this week. Just depends how strong the buyers are / what happens with the USD. I would loveto see this pop up to the 200ma area..



I've still got a bearish stance on the USDJPY but it's not looking appealing AT ALL for someone who trades like me..!

UCAD is looking interesting.. no trade option yet (for me).. I didn't get that short-term short I wanted and it broke the trendline + the 4hr high BUT hasn't yet broken the longer-term high.. not to mention there was a huge sell-off once it hit the 1.332 area.. volatility always catches my eye.. will be watching this one for sure this week 


In terms of news (these are just the ones I'm watching, refer to notes below):



1. Ah, Powell, are you going to give us some action this week?
2. Most likely won't change, but then again, never want to miss an opportunity so will keep an eye on it.
3. Will only trade if it has a decent miss and good momentum after the release.
4. Same as above. All the US traders are watching this like hawks so there could be some good volatility if it misses.
*. I always watch China out of curiosity. Australia exports a lot to China, so does NZ and CAD so anything drastic that happens with China (as it has recently) does affect other nations / currencies so it's always good to know what's happening with China for long-term fundamentals of AUD, NZD and CAD.
5. Unemployment often provides some good momentum after missing consensus so I'll trade it if it misses by a decent amount.

And that's me for now. I watch all majors so will add to this list later if anything catches my eye.

Good luck to all! And well done on all the great ideas!