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Trading AUDUSD and NZDUSD | Judas Swing Strategy 16/12/2024Last week was a slow period for trading with the Judas Swing strategy. We were presented with only two trading opportunities on GBPUSD and AUDUSD, resulting in a win and a loss respectively, yielding a 1% gain for the week. With that in mind, we are eager to explore the opportunities that may arise this week. For the Judas Swing strategy, we focus on identifying setups on the following trading pairs: AUDUSD, NZDUSD, GBPUSD and EURUSD. At 09:30 EST, the market swept liquidity on the sell side of AUDUSD, signalling potential buying opportunities for the session. Shortly after, a similar sweep occurred on the sell side for NZDUSD signalling potential buying opportunities for this currency pair as well. Now, all we need is a break of structure to the buy side. After patiently waiting, we identified similar setups on both AUDUSD and NZDUSD, which are closely correlated pairs, often moving in tandem due to their economic ties and similar market influences. Following the break of structure (BOS), price retraced into the Fair Value Gap (FVG). Once the candle closed, both pairs met the entry criteria outlined in our checklist, allowing us to execute our trades. The AUDUSD trade hit take profit (TP) with minimal drawdown, delivering a 2% return in just 55 minutes. Meanwhile, the NZDUSD trade on the other hand came close to hitting TP but experienced a slight retracement that temporarily delayed reaching the target We revisited the NZDUSD position, and once again, it edged closer to the TP only to retrace again, frustrating, isn’t it? That’s the nature of trading, it takes you on an emotional rollercoaster. This is why it’s crucial to only risk what you can afford to lose, ensuring you can manage these emotions effectively. After patiently waiting, our perseverance paid off as the NZDUSD trade finally hit TP after 8 hours and 25 minutes, rewarding us with a 2% return. Combined with the AUDUSD trade, we were up 4% on Monday an incredible way to kick off the week!
by CleoFinance
Silver Bullet Strategy AUDUSD | 17/12/2024At 9:55 EST, we arrived at our trading desk to scout for trades using silver bullet strategy. We focused on these pairs EURUSD, AUDUSD, GBPUSD, and USDCAD, hoping to get favorable trading conditions during the session. After 15 minutes, our first FVG formed on GBPUSD, indicating a buying opportunity when price retraces into the FVG on this currency pair. Five minutes later, a similar setup to that which formed on GBPUSD appeared on USDCAD as well indicating that we also look for buying opportunities on this pair when we get a retrace into the FVG. Shortly, a FVG formed on AUDUSD, suggesting a selling opportunity when the price retraces into the newly formed FVG. Immediately after identifying the FVG on AUDUSD, the next candle entered the FVG fulfilling all the requirements for our entry criteria. We executed the trade and monitored the other pairs to check if any of them met the entry criteria. However, none of them had at that time, so we entered one trade and waited to see others would give us an entry. We had only 25 minutes to enter the two other setups we observed, otherwise, we would not be able to take those trades due to our trade deadline being at 11:00 EST. We checked USDCAD and realized we got a retrace, but it failed to go lower to give us an entry, so we did nothing. A similar situation was encountered on GBPUSD. We failed to get an entry on the other pairs, however, the positive aspect was that our trade on AUDUSD was progressing well in our intended direction. After waiting a while, we checked on the position again to assess its performance only to realize it had retraced back to our entry point. An ideal situation? No, but this was the reality, we remained unfazed because we had only risked an amount we were comfortable losing. The trade consolidated around our entry price for a while, but we were in no rush. We had three options: 1. Trade reaches the take profit 2. The trade hits the stop loss 3. We manually close the trades at 16:00 EST These are the rules we have on our checklist and we intend to stick by them This trade neither hit our TP nor SL, so we decided to manually close it at 16:00 EST for a small profit, which we’re perfectly okay with. Remember, simply following your trading rules is a win on its own. Your rules exist for a reason!
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by CleoFinance
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