Closed FX Trades

For greater transparency, below are all the closed forex trades that were initiated in February 2023. This includes the trade alert that was sent via email to all members, the setup via the chart and how the trade ended.

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The latest trade that was closed will be displayed at the top. Open trades are available at the following section and can only be accessed by ddmarkets’ members.

Click on the charts to enlarge.

USDCHF Trade Alert

Date: 23/03/23
Status: closed

USDCHF long at market price (ask 0.9148)
Take profit: 0.9235
Protective stop: 0.9074
Risk Ratio (RR): 1: 1.18 (approx.)
Estimated duration: 7 days or less

Relevant as long as USDCHF is below 0.9160

Note: This is a 4hr entry The potential drawdown is a re-test of 0.9120. There are intraday indications for some USD strength.

USDCHF Realized

USD strength was well-noted in USD pairs and crosses, USDCHF is lagging behind. As a result, once a retracement will take place, USDCHF may correct lower.

While we did realize some profit, we expected a greater reaction in Dollar-Swiss. USDCHF is trading at 0.9180, we are closing the long trade at market price.

NZDUSD Trade Alert

Date: 10/03/23
Status: closed

NZDUSD long at market price (ask 0.6145)
Take profit: 0.6520
Protective stop: 0.5960
Risk Ratio (RR): 1: 2.0 (approx.)
Estimated duration: 35 days

Relevant as long as the price is below 0.6200

Note: This is a weekly entry, the potential drawdown is a re-test of 0.6070 with potentially spiking lower towards 0.6000. We have entered at a fairly high price as the bullish correction is already underway.

We are ware of the negative interest of holding a long position in NZDUSD.

NZDUSD Realized

NZDUSD reached a minor resistance level at the time of this writing (around 0.6263). Failure to break above may trigger some corrective weakness.

We decided to exit the trade rather than absorb the potential retracement, which may drive the price lower towards the entry price.

These are tough decisions to make, we have decided not to absorb potential retracements that may have a large impact on the unrealized profit. NZDUSD is trading at 0.6241 at the time of this writing, we are closing the long trade at market price.

USDJPY Trade Alert

Date: 21/02/23
Status: closed

USDJPY short at market price (bid 136.00, entry order)
Take profit: 127.50
Protective stop: 138.50
Risk Ratio (RR): 1: 3.4 (approx.)
Estimated duration: 35 days

Note: This is a weekly entry, the potential drawdown is a re-test of 138.00. We are aware of the negative swap that will be incurred at the rollover.

Weekly-chart based entries tend to require larger stops than daily or 4hr entries. The FOMC minutes that is due later this week may trigger some volatility across USD pairs and crosses.

USDJPY Realized

USDJPY was realized ahead of time due to the intense selling that took place in the market in a fairly short period of time. Heavy selling often results on aggressive retracements, which we are unwilling to incur.

GBPUSD Trade Alert

Date: 14/02/23

GBPUSD short at market price (bid 1.2210)
Take profit: 1.2115
Protective stop: 1.2285
Risk Ratio (RR): 1: 1.26 (approx.)
Estimated duration: less than 24 hours

Relevant as long as GBPUSD is above 1.2185

Note: This is a 4hr entry. The potential drawdown is a re-test of 1.2270

GBPUSD Realized

Date: 14/02/23

We are closing GBPUSD short trade at market price (1.2134)

GBPUSD Post Exit

Date: 14/02/23

How GBPUSD traded following the exit.

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