Review week 44

Result:
1.2R at about 5% risk per trade is 7% profit.
3,2R at about 5% risk per trade is 18% in profit

It's been quite a trading week with the storm Sandy hitting the US east cost, making Wallstreet to stay closed on Monday and Tuesday. This kept many prices in a range and stopped any follow through I was expecting on the trades I had on. Then at the and of the week as trading resumed as normal, the US job figures where about to be released ahead of the US presidential elections coming Wednesday.

So as Gold and Silver prices closed both above their tenkan values, while I was short, I decided to take some profits, especially in the light of all the above mentioned developments. And I placed new entry orders lower to get in possible continuations. Friday the job figures turned out to be more positive as was expected. So it was risk off again and this got me back in the shorts on Gold and Silver. Below are my charts with notes on how I saw and played things:

USDCAD - Long -0.1R open position

USDJPY - Long - 2 open postions at +1.6R

Silver - Short - open position 0.5R in profit

Gold - Short - open position 1,2R in profit
Looking ahead at coming week
Most market moving events are without a doubt the US presidential elections outcome and the GBP and EUR interest rate decision to be anounced on Thursday. So Monday and Tuesday I should make some head way on my open trades and preferably have my stops moved to break even before Wednesday if possible. If not I might just step to the sidelines again.
At the same time EURUSD, GBPUSD and USDCHF are all hinting on strengthening of the US Dollar. See below charts for further explanation.

EURUSD - about to move lower?

GBPUSD - beginning of a move lower?

USDCHF - about to move higher, strong resistance ahead though

The common denominator in all my current trades seems to be a possible strengthening of the USD against everything else. This is kinda tricky with the upcoming US election week. So as said it is imperative that I keep a close eye on the pricelevels that will be reached on Monday and Tuesday evening. I will then have to decide to either take profits or at least tighten my stops.

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