I received an email this week from one of my email subscribers thanking me for the information provided and jokingly asking if I ever have any losing weeks. Well the answer unfortunately is yes I do, and this week was one of those weeks.

It's an awkward market for trading at the moment because the GBP/USD and EUR/USD are still in a downtrend according to my daily charts so I was looking for downwards EMA crossovers on the 4 hour charts but none occurred so there were no trades on either of these two pairs this week.

(EDIT: I've just noticed that they've both crossed downwards today so I must have been too busy with my share trading to notice).

This just left the USD/JPY. The daily Supertrend was green for this pair, so I was obviously looking to go long on any upwards EMA crossovers on the 4 hour chart. I had an opportunity to do so on Wednesday and went long at 110.01.

I wasn't that confident about this trade because my other technical indicators were not indicating that a big move upwards was imminent, and so it proved. The EMA (5) crossed back downwards and I cut my losses at 109.68 for a loss of 33 points (not including the spread).

So it was a losing week trading forex this week but thankfully they are generally few and far between, and I can't complain at all as I had a bumper week with my share trading (+£5380) thanks to Aquarius Platinum and Dragon Oil surging upwards.

I'm off now to enjoy the long bank holiday weekend. Have a good one.