Trade Update: Pre-FOMC Setup
This is where I end the week
Hi, a quick update on the pre-market setup on NZDCHF and USDJPY I shared over the weekend:
Pre-Market Prep: High Impact News, Don't Bet More
Hi, its the last week in January, earlier in the year, I posted a trade on the Crude Oil short, which I indicated that it didn’t stem from rigorous analysis and it was a wrong position. I haven’t executed any trades this year, I am just opening the shop next week, hence the prep.
I had a short bias on NZDCHF and a long bias on Brent Crude Oil, unfortunately both setup failed.
I bought oil at the price level, but was stopped out and remained flat.
Also pulled a short on NZDCHF at that level, but was stopped out, price rallied but was still largely range bound as NZD and CHF Futures were both strong, so there wasn’t any basis to short either pair against its crosses.
That covers the trade update, and where I end the trading week, really just on observation mode till next week.