Wednesday 2nd of March

Good morning folks!

While I think we can all agree that the world isn’t in a normal space, I believe the FX markets are now more or less in sync so I’m a little bit more confident in terms of positioning myself.

Had I been executing, I would’ve had two losses, EUR/JPY and EUR/NZD, so I’m happy I went with my gut and played it safe.

In terms of closing NZD/CHF early for 0.8R rather than waiting and keeping my stop at breakeven and seeing it run back up to around 2R I’m not unhappy with the decision. The risk was very real to get some serious slippage in case of an unannounced decision to send troops on the ground or the U.S. prepping their nuclear warheads etc..

I prefer to be safe rather than sorry and 0.8R is better than nothing.

For AUD/USD, looking back I’m happy I moved my stop to BE. as per my plan. however, I think I should’ve closed the position at the same time as my NZD/CHF – the reason being the exact same, safe & sorry is better than having a bit more money or risking it big.

I didn’t close the trade at the time since we had a lot of confluence factors showing that a move higher would be blocked by the 50EMA (which fit perfectly with a retest of the trendline). I should’ve closed it for 1.8R.

Next time there’s a potential nuclear war I’ll now know how I want to execute my strategy & manage my positions accordingly. Love it.

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FX Watchlist

AUD/NZD

Aussie Kiwi is on my watchlist for a potential short. We have a weekly stack that starts at the red line, so I’ll be waiting for it to be reached before looking for a potential short play.