Go With The Flow trade ideas 4 February 2019

Welcome to a new week in a new month

As Dubs sails off into the sunset to enjoy his second New Year of 2019, the rest of us have our noses to the grindstone, so what’s on the trading cards today?

As per my weekend post, I’m still in a USDCNH trade taken last week. I went long into 6.70 and offloaded half on Friday at 6.7555, and a slice more this morning at 6.7843. I’ve moved my stop to 6.74 and TP is at 6.80. At the moment I feel this strategy is still good so I’ll be looking to add back into 6.70 again.

I’m also in GBPUSD and I’m watching USDJPY for a short scalp up here near 110.00. I don’t actually see the 110 level as the important one though but 109.90, then 110.10/20. However, it looks like it’s on one of its grinding missions higher so I’m staying cautious for now. Apart from that, I’m still 1.12-1.15 in EURUSD, until the price says otherwise. AUDUSD I’d be a possible seller into 0.7300.

Let us know your trading thoughts today, and good luck.