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							Weekly Trading
There have been four trades in total this week with three breakout trades
and one trade based on my 4 hour trading system (see right for more
details). Profits have been relatively small, but thankfully my shares
have rocketed this week giving me one of my most profitable weeks of the
year so far.

Anyway back to the forex trades and I will start with my 4 hour system
first of all. I was still looking to go short on the GBP/USD and EUR/USD
pairs (although the Supertrend has recently turned green on the daily
chart sign so I will now be looking to go long) and the only chance I had
to open a short position was when the EMAs crossed downwards on the 4
hour chart of the GBP/USD on Monday afternoon.

I went short at 1.6080 and despite going against me initially, I
eventually managed to close half the position for a profit of 50 points.
However after bringing my stop loss down to break-even, the price then
bounced back and I was taken out at break-even overnight.

The breakout trades (all on the GBP/USD pair as always) worked out
relatively well. The first one on Tuesday was a textbook one that yielded
36 points, and I talked about it in my last blog post if you want to find
out more.

The next one (on Wednesday) didn't work out quite as well. The price
broke downwards out of the overnight range and should have been a
straight forward trade down to the S1 level. However it kept falling just
short on several occasions, and after moving my stop loss to break-even I
was taken out at this level.

The last breakout trade was placed this morning. The overnight trading
range was again quite small (around 25 points) and after failing to close
above this range, we did see a 5 minute candle close below this range and
so I went short at 1.6291. The pivot point was 30 points lower and this
is still my target as I am still in this trade.

I have set my stop loss 20 points above my entry price, but it's just 2
points above my entry point at the time of writing and I am still
confident that the pivot point will eventually be hit. I will update you
later with the result of this trade. As it's Friday I think I will
probably take 20 points profit if the price goes that low, rather than
hold on for the full 30.

Anyway that's all for another week. Have a great weekend.

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