It was quite an eventful week on the markets with the UK slashing interest rates by 1.5% and Barack Obama being elected president, and it was quite an eventful trading week for me personally as well with three separate trades being triggered in total.

The first of these was on Monday when both the GBP/USD and the EUR/USD pairs crossed downwards (in terms of the EMAs on the 4 hour charts). I used the 2 hour chart for entry and went with the EUR/USD because that gave me a better entry and went short at 1.2772.

It then moved about 20 points upwards before resuming it's downward trend and I closed out for just under 50 points profit later that day. I usually close half and let the other half run, but I decided to bank the total profit, purely on instinct, but as it turned out my instinct was wrong on this occasion as it went on to fall a further 200 points.

My second and third trades took place at roughly the same time on Wednesday night. Both the GBP/USD and USD/JPY pairs were crossing downwards so I decided to take short positions in both. Using the 2 hour chart for entry I went short at 1.5906 and 98.20 respectively. I generally look to close half the position at 50 points on the GBP/USD (and EUR/USD) pair and 40 points on the USD/JPY pair and let the other half run, but with the big interest rate decision due the following day and the election result overnight I decided to play it safe and closed both positions for +50 and +40 (minus the spreads).

There could easily have been a fourth trade because the EUR/USD also crossed downwards soon after the UK and European interest rate decisions but I thought it might be a volatile session so I stayed out of the market on this occasion and wrote a blog post on the day's events instead (although this too would have been a nice winning trade).

Overall though it was still a very profitable week. Every single trade seems to be a short trade at the moment but until the daily Supertrend turns green on any of the three major pairs I trade, that will continue to be the case for the foreseeable future.

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