Today’s ECB rate decision = a big day for the Euro! My plan was to be very careful about the Euro and only trade the EUR/USD before the rate decision event. The best option is to avoid trading it at all today, but there was a really nice long level which I couldn’t resist taking!
The level started to work rather nicely! It worked until the price turned 1 pip before my profit target. By that time, our position management had already trailed the stop loss, so I took -4 pip loss. This was a shame as it was a good level and nice reaction. This was my final trade setup on the EUR/USD from this day, and here is the screenshot.
The USD/JPY was more friendly today, as we managed 2 nice full-time profit trades.
The first trade (long level) was based on our volume accumulation setup and it got hit during the Asian session. I took it with a limit order because I was asleep. That was quite lucky because if I were awake I would have discarded it because the level was already tested when it got hit. Anyways +10 pips profit for me. Good start of the day.
The second trade was a short trade and despite a pretty strong counter-move (the price moved 8.6 against me), it finished with a full +10 pips profit.
Today’s total was +16 pips profit. Despite the unlucky EUR/USD trade, it was another good day at the office 🙂
Happy trading!
-Dale
Do you want access to Trader Dale’s Advanced Volume Profile Training Course, TD’s Flexible Volume Profile, Daily Levels Video, and Member’s Forum? Click Here to Learn More
