July 19th, 2018

This week so far: +7 pips (including VIP)

Last week: +131 pips

Previous week: +53 pips

The week before: +216 pips

Last Month: +462 pips

This Month: +234 pips

Trading in European stock exchanges is mixed against the backdrop of continued reporting season, with London rising by 0.1%, Frankfurt falling by 0.1%, Paris by 0.1%, and the European Stox 600 index rising by 0.1%.

The dollar is gaining against the leading currencies. The euro is down 0.2% to $1.1614 and the pound is down 0.3% to $ 1.3029.

Open positions

None

Pending positions

None

Closed positions

A very bad trading day for me today but the whole week is still positive (including my VIP trade).

VIP Long term trade closed yesterday for 60 pips profit on EUR/USD.

GBP/CAD lost 39 pips after I decided to risk 10 more pips to win 40 (massive support has been broken).

GBP/USD first trade won 20 pips, then the BUY pending went live but again, the pair managed to break a massive support and lost 29 pips.

USD/CAD broke top resistance and with the USD strengthening it was more than likely to reach 1.3330 area, and maybe it will but the SL hit too soon losing another 28 pips.

A total of 64 pips loss today. 53 pips loss on Premium for the week so far, and 60 pips profit on VIP put me in just 7 pips positive. 

Tomorrow will be the last day of this week and I am hoping to finish another GREEN week! 

This is when risk management becomes so important, if my weekly pips are positive, so is my account. 

In my sight

Friday

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July 18th, 2018

This week so far: +50 pips

Last week: +131 pips

Previous week: +53 pips

The week before: +216 pips

Last Month: +462 pips

This Month: +234 pips

Federal Reserve Chairman Jerome Powell said Tuesday that the US central bank will continue to raise interest rates gradually "for the time being" to ensure that inflation remains close to the target against the strength of the labor market.

The Federal Open Market Committee (FOMC) believes that, for the time being, the best way forward is to continue to gradually raise federal interest rates, Powell said in his testimony before the Senate Banking Committee.

"We are aware that on the one hand, raising interest rates too slowly could lead to increased inflation or excesses in the financial markets," Powell said. "On the other hand, if we raise interest rates too quickly, the economy may weaken and inflation may remain steady below our target."

Powell's appearance before the Senate Banking Committee is the first half of his two day congressional testimony. On Wednesday he is expected to testify before the House Financial Services Committee.

Powell said today that "over the next few years" the US employment market will continue to be strong and inflation will remain close to the Federal Reserve's target of 2%, and presented four reasons for this forecast.

Financial conditions continue to be positive for growth, he said, and the financial system is stronger and ready to meet the credit needs of the economy. "Tax policy and a federal budget may continue to support growth," continued Powell, "and the outlook for economic growth abroad continues to be robust despite increased uncertainty in some regions of the world."

"The unemployment rate is already low and is expected to continue to decline, and Americans looking for work have a good chance of finding it," he said. "Overall, we believe that the chances of a surprising weakening of the economy versus the possibility of economic growth higher than our current projections are more or less balanced," he said.

Commenting on the trade disputes between the United States and some of its major trading partners, Powell warned that it was "hard to predict" how trade tensions would affect the economic outlook or how it would affect "the size and timing of the economic effects of recent budgetary policy changes."

Open positions

VIP Long Term Trade

Pending positions

None

Closed positions

GBP/CAD BUY trade was placed at the bottom of the main channel line, the pair went up as predicted to next resistance and won the first 50 pips of this week.

Video review here: https://www.youtube.com/watch?v=a7z2Kj86GHM

Please Like, Comment and Share!

In my sight

Plenty of events today so should be interesting 

Please make sure you are logged in to the AndyW APP to get my LIVE Notifications! A copy by Email will also be sent to you.

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July 18th, 2018

This week so far: +50 pips

Last week: +131 pips

Previous week: +53 pips

The week before: +216 pips

Last Month: +462 pips

This Month: +234 pips

Federal Reserve Chairman Jerome Powell said Tuesday that the US central bank will continue to raise interest rates gradually "for the time being" to ensure that inflation remains close to the target against the strength of the labor market.

The Federal Open Market Committee (FOMC) believes that, for the time being, the best way forward is to continue to gradually raise federal interest rates, Powell said in his testimony before the Senate Banking Committee.

"We are aware that on the one hand, raising interest rates too slowly could lead to increased inflation or excesses in the financial markets," Powell said. "On the other hand, if we raise interest rates too quickly, the economy may weaken and inflation may remain steady below our target."

Powell's appearance before the Senate Banking Committee is the first half of his two day congressional testimony. On Wednesday he is expected to testify before the House Financial Services Committee.

Powell said today that "over the next few years" the US employment market will continue to be strong and inflation will remain close to the Federal Reserve's target of 2%, and presented four reasons for this forecast.

Financial conditions continue to be positive for growth, he said, and the financial system is stronger and ready to meet the credit needs of the economy. "Tax policy and a federal budget may continue to support growth," continued Powell, "and the outlook for economic growth abroad continues to be robust despite increased uncertainty in some regions of the world."

"The unemployment rate is already low and is expected to continue to decline, and Americans looking for work have a good chance of finding it," he said. "Overall, we believe that the chances of a surprising weakening of the economy versus the possibility of economic growth higher than our current projections are more or less balanced," he said.

Commenting on the trade disputes between the United States and some of its major trading partners, Powell warned that it was "hard to predict" how trade tensions would affect the economic outlook or how it would affect "the size and timing of the economic effects of recent budgetary policy changes."

Open positions

VIP Long Term Trade

Pending positions

None

Closed positions

GBP/CAD BUY trade was placed at the bottom of the main channel line, the pair went up as predicted to next resistance and won the first 50 pips of this week.

Video review here: https://www.youtube.com/watch?v=a7z2Kj86GHM

Please Like, Comment and Share!

In my sight

Plenty of events today so should be interesting 

Please make sure you are logged in to the AndyW APP to get my LIVE Notifications! A copy by Email will also be sent to you.

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July 17th, 2018

This week so far: 0 pips

Last week: +131 pips

Previous week: +53 pips

The week before: +216 pips

Last Month: +462 pips

Oil prices fell more than 4% to a three week low after US Treasury Secretary Steven Mnuchin said the US may grant temporary approval to certain countries to continue to buy oil from Iran despite US sanctions.

Crude oil futures for delivery in August closed at $68.06 a barrel, a three week low, after falling 4.2% on the New York Mercantile Exchange.

Open positions

None

Pending positions

None

Closed positions

Yesterday’s EUR/USD trade was in profit of about 30 pips but the target has not been reached. Trade closed for Break Even after moving my SL for safety. 

Same case with GBP/USD today, and this week is still 0 pips but this is just the beginning of the week.

In my sight

Trading the NY session today as well, we have some CAD and USD events.

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July 16th, 2018

This week so far: 0 pips

Last week: +131 pips

Previous week: +53 pips

The week before: +216 pips

Last Month: +462 pips

Asia is declining following signs of slower growth in China. The Tokyo Stock Exchange is closed for the day. Hong Kong is down 0.2%; Shanghai is down 0.5%; Singapore is losing 0.8% of its value; Seoul is down 0.2% and Sydney is losing 0.4%.

The dollar is trading steadfastly against leading currencies. The yen is down 0.1% to 112.47 yen per dollar. The euro was trading at $1.1684, and the pound rose 0.1% to $ 1.3239.

Oil is trading down. Sweet Texas oil is down 0.5% to $70.6 per barrel, and Brent oil is down 0.5% to $74.9 a barrel.

Open position

EUR/USD

Pending positions

None

Closed positions

GBP/CAD London trade won 30 pips on Friday.

EUR/USD New York trade won 30 pips as well.

A total of 60 pips to close another GREEN week!

In my sight

Not a busy Monday as usual…. Will have some USD news later on today so I will be trading.

From tomorrow we should have busier days.

Great week everyone!

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