We sold most of our NZD trades that moved well in our direction. NZD strength came with a big surprise for many who were short but our strategy was adding positions on them and took out initial profits.
I am still long on NZD and took early profits from the recent impulsive move on NZDCAD, NZDCHF and NZDJPY trades. Planning to re-enter once we get a slight pull back and complete the trade to the original take profit level.
USD trades seen some selling today after FED interest rate hike announcement. But this selling is to deceive traders to go short but we are holding our long trades on USDPLN and USDSGD and I also added a new trade on USDSEK.
I also added small positions in our GBPJPY trade too. Anticipating a sudden surprise move soon.
AUD trades on AUDCAD and AUDJPY are also good.
I would like to target 5-10% overall gain in Dec and it is doable with our trade positioning. The year-end season is here and we could also see price movement being little sluggish starting from next week. Always thankful for your support.
About the author
Ramesh is the author of 3 trading books “Trade Smart with 10/20/30 Rule™” , Making Big on CAD/CHF Forecast, and “Trade Forex with Confidence” which are available on Amazon. He created 10/20/30 Rule™ for traders to build and test their next money making trading strategy fast.