We took a few positions on in the start of the year. We had a few work and a few that didn’t, then last week we took on a couple that took and have started to run.
The AUD/USD took a nice bounce off of support in the 0.8860-70 range and provided a great entry. We took on one position at the 0.8900 area and a second at the 0.8950. Trading then saw the AUD/USD move to trade into the .9050 area so resistance today where we closed one of our positions to lock in a nice initial profit. Then, so far, have left the second on to see what we get out of this move. Daily resistance sees the 50 Day MA at this level so from here price could turn and begin a test back down, or with some momentum, could see moving into the 0.9100 or even the 0.9200 area in the remainder of this weeks trading.
The Eur/AUD also provided us with a nice entry. We took on a short position on this pair last week looking for a test back into support. Price did move to test support today at the 1.5050 – 1.5100 area, with price at the moment trading in the 1,5120 area. At the moment I am watching the shorter term charts for a test back toward the bottom and without new lows will consider closing this position.
Today I was able to grab an intra-day position on the S&P500 which I closed out at 1812.00, as well as a short position from last weeks trading on the GBP/JPY which I closed at 170.757.
This week I am looking at positions on a possible move up on Silver, as well as current EUR/AUD, AUD/USD. And possibly re-joining the nice turn we have seen on the S&P500. Live positions at the moment include the AUD/USD and the EUR/AUD. I am looking forward to see what these will Pay. So far our managed account is off to a fantastic start seeing a 30% kick off to 2014.
Happy Trading!
