Sails Up

↓ EUR/$

Good CCI divergence on the charts.  The economic calendar shows good numbers on the GBP.  I expect a DXY pullback.  However the economic calendar lists pirate activity this week so will keep my position size 33% of normal with a wide stop.

Update:  position open, currently below the 1.185 stop-loss

Position stopped out;  risk capped at -7.6% of equity

↓ EUR/NOK

Daily high-test and double top off the 50 ema.  I expect the GBP and USD to apply downward pressure on the Euro.  NOK is a commodity currency.  Position sizing will be halved due to correlation with EUR/$ short.

Update:  position open, currently below the 9.366 stop-loss

Position closed, 08-24-2017:  closed out on 200 ema bounce; gain on trade +23.1% of required margin.

↓AUD/¥

Update:  took a minor short on AUD/JPY at 87.3;  closed position early due to change in retail positioning; gain on trade +15.4% of required margin.

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Author: Alexander Zhang's Blog

The ocean is my home, although I don't miss living on a ship! Risk Manager & Author from San Francisco.