WEEKLY ACCOUNT SUMMARY - UP 2% LAST WEEK

AUD/NNZD - Moved to BE and took 33% profits at 1.3420

Tittle explains quite well what my current position is. I am still holding 66% of my long entry till final target at 1.3500 BRN. My strategy to not move my stop to BE at the FTA 1.3360 paid off. Before entrying my thiniking was that if my trade was triggered on the break of the BUOB H4 and price reversed at 1.3360, this would likely come back to my entry level. If I had placed my stop at BE as soon as that FTA got hit, would have been out of the position by now at BE. Instead I let price do its thing and moving to BE once 1.3420 got hit. This is more advanced and somehow riskier, whole point is sometimes I see potential for price to move higher at hot area where i see strong confluence, but to see the trade work in my favour, some modifications to my actual plan to always move to BE at FTA are necessary. It was a more creative play.

I AM LONG AUD/NZD, BUOB

First chart is the daily you can see how the level has been key in the past, 1.3200. Bullish outside bar form second chart (H4) showS whopping rejection from around 1.3200, all ocurring in 50-61.8% fib. Will play this long a bit different, moving to BE once 1.3420 is reached althogh first troubling area comes at 1.3355-60. Reasong being I want to get the trade a chance to breath. Will be happy to book some profits at 1.3420, 1.3500 next thn let the rest run. Still working out the percentatge once each level gets hit.

WEEKLY ACCOUNT SUMMARY - UP 1.5% LAST WEEK

UPDATE GBP/CHF, EUR/AUD

I took 50% profits and moved to break even on GBPCHF weekly PB. Final target is 1.4400

EUR/AUD short position from the weekly has been whipsawing for the past weeks, I am currently in positive territoty as I write the post.

SHORT GBP/CHF WEEKLY PB

Tks Jeremy for the heads up. I first noticed this formation after you posted on PAT. This is the great thing about having our nice little hub to discuss PA, we can help each other to scan through all carts. We are one big eye awaiting to hunt down the press... nice! I have drawn three red lines, from top down they are SL, FTA where i will move to BE and take about 50% profits although I would like to see the momentum behind once the area is approached, perhaps will take only 1/4 if the level is ever reached. Last line drawn is the final target around 1.4400.

I am also delighted to see over the past few weeks the handling of boredom by most of us, we have not been been commenting tht often as there were no much to talk about, just vertical rises. Now with the corrections is time to take out our riffle and be ready to pull the trigger when the time comes! Let PA pave the way to trading prosperity and financial independence.

NO TRADES TAKEN THIS WEEK

USD/CHF my ruin, down 2.5% on the week, nearly 10% up YTD

I am angry with myself for not being able to manage my USD/CHF trades properly. The first loss was due to a misplacement of my FTA. Second one was for wanting to hold the trade going into the NFP instead of moving to BE asa the contrarian PB at the daily was confirmed. Anyway, I am still quite novice and all mistakes are costs of running this business. As I always tell my friends, this is a lifelong project for me... and I just came off the nest... :)