Trades of the day

Monday Forex Recap – A Decent Start to the Week

I kicked off the new trading week with two forex positions: buys on both GBP/JPY and AUD/USD.

The GBP/JPY trade moved nicely out the gate. I set a small stop loss in profit and let it run, but, as it often goes, it quickly retraced, so I decided to cash out while still ahead.

AUD/USD was slower to get going, but picked up momentum through the day. I added to the position and set a tight stop loss twice… both times I got stopped out! Thankfully, the third attempt landed, my take profit was hit for £3.10.

Including the small wins from the earlier trades, Monday closed out at £3.25 profit. Not a bad start to the week.