Happy Friday everyone, the weekend is nearly here! I thought I would do a quick blog post to let you know what I have been up to this week and just give a brief overview of what positions I have open as of today.
This week has a been a short one for me as I was still away from home on Monday travelling back from the treehouse. I have then spent most of the week working on my new strategy guide for trading market gaps on FX currencies and Indices which should be released this month. Currently I am manually backtesting multiple financial instruments which takes an absolute eternity but in my opinion, it is imperative to the success of any strategy. I will go in to backtesting in more detail on a future blog post and explain how I backtest, why and what to look for.
Watch out for more information on the release of this strategy by liking and following this blog and also following me on my Instagram page which is @charlieab94.
In terms of trading, I have entered a few positions this week with varying success. I have posted all of the set ups and technical analysis on my TradingView profile which can be found by clicking here.
EURAUD Long Position – Executed at 1.57910
EURUSD Long Position – Executed at 1.12020
They are the 2 main trades which I entered in the hope of riding bullish momentum over the next few weeks. You can track these trades live by clicking on the links below each trade.
I am also still holding short positions on Gold and NZDUSD from previous weeks and have been scaling in and out of these positions on the various bearish waves we have seen this week. I am holding these positions for two main reasons: 1) The higher timeframe candlesticks are showing bearish momentum is still apparent and 2) They both benefit from positive swap fees on short positions so I get paid to hold the trades.
I would like to mention that I have a lot of blog posts in the making with a lot of free knowledge to give to you all on here. I am planning on covering topics such as:
- Risk On and Risk Off markets
- How to use the TradingView platform to it’s full potential
- Capital Allocation
- Trading Market Patterns
I will also be releasing the Gap Trading strategy guide in the coming weeks.