Review week 36

Last week I started to look only for trades on EURUSD, EURJPY, EURGBP, USDCAD, USDCHF, USDJPY and Brent Oil. To know why, check out last weeks post. I made 4 trades. One was profitable. Having a reward to risk ratio of 2:1 on all trades I made -1R.

I took one countertrend trade on the EURUSD, which is not according to my trading plan. And not surprisingly it failed. What was I thinking?! There was a strong bearish engulfing pattern, but there was no confluence whit other signals or significant price levels.

EURUSD - Short -1R - Counter trend = not according to my trading plan

Then another silly entry was on the USDCAD. I placed a trade based on a pin bar that formed on a US holiday. So the pattern looked ok, but had formed on very little data.

USDCAD - Short -1R - entered on a pinbar that formed on a holiday
I did get the directional move correct. If I would have entered based on the bearish engulfing pattern that formed on Friday I would have had another profitable trade.

At my Brent Oil trade I got stopped out by only a little wick. It happens. And I already have another long limit order based on the bullish engulfing bar of last Friday.

Brent Oil - Long -1R


Then finally on Friday my USDCHF reached it's take profit target. Unfortunately, I did not have time to monitor the trade and milk some more profit out of it.

USDCHF - Short 2R


Looking ahead to week 37

Based on my trend analysis with the Ichimoku Cloud, I will be looking for the following directional trades:
Short: USDCHF, USDCAD,
Long: EURUSD, EURGBP, EURJPY, Brent Oil
No trades / Side ways: USDJPY, Brent Oil

Economic calendar week 37


GMT Event
Sep 09
n/a
Troika visits Greece
01:30 CNY Consumer Price Index (YoY) (Aug)
Sep 12
06:00 EUR Consumer Price Index (YoY) (Aug)
06:00 EUR Harmonised Index of Consumer Prices (YoY) (Aug)
08:30 GBP Claimant Count Change (Aug)
n/a EUR Constitutional court expected to give its preliminary ruling on the ESM and the fiscal compact
Sep 13
08:00 EUR ECB Monthly Report
18:15 USD Fed's Monetary Policy Statement and press conference
Sep 14
09:00 EUR Consumer Price Index - Core (YoY) (Aug)
09:00 EUR Consumer Price Index (YoY) (Aug)
12:30 USD Consumer Price Index (YoY) (Aug)
12:30 USD Consumer Price Index Ex Food & Energy (YoY) (Aug)
12:30 USD Retail Sales (MoM) (Aug)
13:55 USD Reuters/Michigan Consumer Sentiment Index (Sep)Preliminar