First forex trade review on Steemit!
So if you have read my previous posts, you will see that I trade the forex market. I currently have one trade open and I closed one trade yesterday.
My open position-
That is EUR/USD short- I've taken this position as a longer term play, both technicals and fundamentals lined up nicely for me. I believe the Euro will see some uncertainty due to the Brexit vote with the EU under huge pressure now due to the UK exiting. I think that there is a lot of room for a move down and the dollar currently has the potential to act as a safe haven currency and the dollar index is looking bullish to me personally.
Closed position- 2% return
Above is an intraday position I took on AUD/USD yesterday. All of my timeframes lined up nicely and I managed to gain 2% from this trade. I closed out before the RBA meetings minutes as I didn't want to be spiked out and was happy with the short term play. Yes, I did leave some profit on the table but as a trader you have to know that you cannot catch all of every move and you have to stick to your plan. I had a planned exit point and so I closed the trade there with a profit target taking me out.
Any questions, comment below as i'm more than happy to help people out!