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Weekly Summary

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  • Weekly Summary

    Last week I set up only for three trades, and one trade gave us a deviation from the forecast, which my software fired on.
    Check out the video from this trade here
    It was a great trade, perfect price action, and an excellent example of what I do well. Getting the right set of results and seeing price action like this makes for good profits.
    You can see the price action on the charts here also:

    Remember that it's not about the number of trades taken, but the right trades, which requires a lot of patience. April overall was quiet for me but resulted in three trades taken with a 2:1 win/losses ratio making another profitable month.

    Those followers closely watching will notice I didn't put out a plan for Canadian GDP on Friday. Canadian data is still hit and miss but will become more focused on moving through the year. The BoC said last week that the first-rate raises might come in 2022, whereas previously, it was 2023. That should add some spice to Canadian data soon. I didn't set up for GDP as this data doesn't have historical success. I would need reasonable deviations and an active BoC before Canadian GDP will be tradable.
    My diary changes minute by minute (tick by tick) just like the markets; however, currently, this is what I'm setting up for this week. I'm looking forward to New Zealand Unemployment data tomorrow and Canadian employment on Friday, Also US ADP Non-Farm Employment data as US employment data is warming up.

    04/05/2021 23:45:00 EURNZD Unemployment Rate
    05/05/2021 13:15:00 USDJPY ADP Non-Farm Employment Change
    05/05/2021 15:30:00 USDOIL Crude Oil Inventories
    06/05/2021 09:00:00 USDNOK NOK Rate Decision
    06/05/2021 12:00:00 USDTRY Turkish Rate Decision
    07/05/2021 13:30:00 EURCAD Employment Change

    I'm looking for new information in real-time. As the markets change, so will my planned trades. If you don't see a trading plan posted before the trade, I'll let you know why I decided not to trade it, vice versa; if new opportunities come up, I'll post my plan as far in advance as possible, so keep watching this space for updates. I work in real-time so do my trade plans.
    Please feel free to ask questions.

    Good luck this week.
    James Thatcher

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