2013-04-25 Hat Trick !

Since the Yen was rampaging I figured I could maybe use that, so I cast an eye over the strength charts again and saw this :

So I did. well, anyone would have. It's obvious !  Sell some AUD to pay for the JPY I actually wanted, or to make it simpler, sell the AUDJPY.

And away it went.

Oh how it went. All the way to half a pip away from putting $50 back in the bank. Then the swearing started.

And that was the end of $19.67.

One thing that has been getting more and more obvious throughout this trade was that the GBP was on a beautiful steady down slope - perfect for shorting. So I thought I'd have a quick check for news that might be about to happen then have a look at that. Mmmm, GBP GDP figures about to come out. So I waited. And when they did come out they were a lot more positive than expected, and that was the end of the weak GBP ...  Can you see from this when the news happened ? :-D

So I thought I might let things settle down a bit after a spike like that, because it shook everything up not just the GBP pairs - while the GBP pairs were directly affected, all the currencies that trade against the GBP have to be balanced out against each other too e.g. consider the GBPUSD and the EURGBP - the EURUSD pair will also be affected.