Review week 48

Result: +2% on equity

Last weeks positions on Gold and Silver got stopped at the very tight stops I placed. This turned out to be a good call as price reversed sharply.

This week was good for a total of three trades. One long order on Silver got tagged late Thursday. Then price retraced a little and held my position at a small loss. As late Friday afternoon the position came about break even I decided to get out. Again a good call as price dropped substantially during the Friday NY session.

Silver - BE
Last week I missed out on the long run on USDJPY as I did not adhere to my trading plan. So this week I did stick to my plan, but I also kept an eye on the price action as price was getting close to the resistance level. As the trading week was coming to an end I there were no signs of follow through I closed out two positions in profit on the USDJPY.

USDJPY - two profitable trades

Looks like USDJPY is ready for a pull back to the 20 EMA or Kijun. The Friday high was a recent lower high and a pinbar. Only after a substantial pull back or a new high, will I consider new long positions.