US Session 30-04-07

Headlines:
Canadian dollar rises to 7-month high against US dollar on firm GDP data
Dollar drops on dip in US core PCE deflator

Basically, a trending session. You will be better-off by going with the flow.

(GBP/USD in slow climbing mode)











(EUR/USD did a late surge)











(USD/CAD - Looking at the price action, I should have held my earlier short position for a bigger profit)

Trade the News: USD/CAD

[13:29] Reading the price action before the (GDP) news release. Decided to sell at 1.1157. Maximum risk 10 pips.













[13:30] Better than expected GDP.













[13:36] Hanging onto the winning position, initial target of 1.1131 being hit easily but finally exited at 1.1124 for +33 pips. A good reward-risk ratio of 3 : 1.













[13:41] MM levels changed. A better exit should be 1.1108 for extra 16 pips. Anyhow, I was satistified with my earlier exit. Possible improvement on the result by using trailing stops.

US Session 27-04-07

Headlines:
Dollar cuts losses after hitting record low vs euro

The dollar rallied after the consumer confidence data and I could only pick up one reversal which was the USD/JPY.
(Long USD/JPY +40)












(USD/CHF no position)












(GBP/USD no position)

European Session 27-04-07

A runaway move which I missed at the beginning of the European session:
(USD/CAD short)











A fast move which impossible for me to seize:
(GBP/USD: potential +40 for the brave)











Some good moves inside my European trading hours:
1) Long NZD/USD +19











2) Long EUR/USD +20 pips











A late move outside my European trading hours:
a) Short USD/JPY +12 (hard to refuse as it lacked behind other majors at that time)

US Session

Not much that I can do in this session as the dollar rebounded strongly throughout the morning European session and into the opening of US session. We are getting into the tail end of big moves, and hence the expected choppy price action.

Choppy price action (GBP/USD):











A good trade that I missed (potential USD/CAD long +22):











A trade that I nearly got sucked in (EUR/JPY short potential loss -15):











A trade that I simply avoided due to low reward-risk ratio (possible long USD/JPY):
***Update***
I was wrong earlier, a 20 pip target was easily hit, current price 119.55!!!

European Session

Headlines:
JPY Selling the Trading Theme through Europe
U.K. Pound Falls; Recent Rally May Reflect Rate Expectations

Short GBP/USD +40











Long USD/CHF +22











Long USD/CAD +18