OVERVIEW: Last 3 trading days โโ 2.9 - USD/JPY - LONG โ๏ธ(TP-156.403|+re-entry in profit)
๐ธโ 2.9 - NAS100 - LONG โ๏ธ (TP - 29164.40)
โ 2.9 - DELL - LONG โ๏ธ (TP - 459.88)
โ 2.9 - UKOIL - SHORT โ๏ธ (TP - 93.87 | or 94.276 me)
โ 2.9 - AMD - LONG โ๏ธ (TP - 457.49)
4/5 = 80% Signal Accuracy (Success Rate)
โ 3.9 - NAS100 - LONG โ๏ธ (TP - 29278.90)
โด๏ธ 3.9 - OXY - LONG โ๏ธ (open - off-profit)
๐ TP
@: 60.90 โ 3.9 - AVGO - LONG โ๏ธ (TP - 354.43)
(โ ๐ก 3.9 - NAS100 - SHORT โ๏ธ (TP - 29498.60 me or similar) ๐ธ) *
โ 3.9 - AUD/JPY - LONG โ๏ธ (TP - 112.528 me | or 112.398)
๐ธ3/4 - (1 open position)
*excluding NAS100 with only "mini-profit"
FRIDAY'S TRADES โ 4.9 - USD/JPY- LONG โ๏ธ (TP - 156.244 | +re-entry) ๐ธ
โด๏ธ 4.9 - EUR/USD - SHORT โ๏ธ (open - near break-even)
๐ TP
@: 1.15987โ 4.9 - AVGO - LONG โ๏ธ (TP - 356.29) ๐ธ
โ 4.9 - INTC - SHORT โ๏ธ (TP - 94.16) ๐ธ
โ 4.9 - NAS100 - SHORT โ๏ธ (SL - 29513.60) ๐ธ
โด๏ธ 4.9 - MRVL - SHORT โ๏ธ (open - off-profit)
๐ TP
@: 221.114/6 - (2 open positions)
โโโโโโโโโโโโโโ
Friday was another strong session
- above all because we read the market very well and had already reduced our exposure almost ideally ahead of the NFP data.Both before and after the NFP release, the market was very difficult to trade. The highly surprising labor market data caused significant losses for most traders. Traders suffered then even more losses because they bought risk assets in reaction to the strong data without understanding the immediate monetary policy implications: With rate hike expectations rising, the short-term dynamic was Good News = Bad News.
With our original USD/JPY position ๐ธ, we ran into intervention measures from Japanโs Ministry of Finance / the BoJ. Afterward, however, we very successfully sold the excessive JPY gains - including with AUD/JPY ๐ธ, which I closed a bit higher.
Getting caught by the intervention and the subsequent overreaction is something that cannot really be avoided. In hindsight, however, we could have closed the original position earlier or worked with a tighter SL. If you are still LONG in USD/JPY, we expect some renewed JPY weakness over the coming sessions. For USD/JPY, the key factor will be how Fridayโs US CPI data come in.
On Friday, and throughout the entire past week, we mostly executed contrarian trades - with great success. These included INTC ๐ธ, our Nasdaq 100 swing trades ๐ธ, as well as our trades on a correction of the excessive JPY move.
With US markets closed today, we will mostly stay out of the market.
Enjoy your Monday,
Rob ๐ค
