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Mike BridgmanFx

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AUD short - fading rallies in a downtrend is the safer setup
Be very careful at this time of year as the market is less predictable and money flows are down. Positioning is light and we await the FOMC next Wednesday.  Next week could prove to be interesting as we approach the holidays and year end. Keep it simple and...

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Taking the EUR short - back to trending lower.
Fading a rally in a downtrend is an opportunity for institutional traders to add to their core positions. After 3 days of moving counter-trend the EUR was unable to take out the 1.2500 figure.  The UK traders immediately reversed the Asian move higher - as ...

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AUD entry with trend as USD strength comes back into the market late session
The moves overall this week have been counter trend.  Position traders may have given back a lot of profit.  The larger trend remain one of USD strength. The market has become less liquid this week but my bias remains the same. The AUD moved above its Asian...

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The GBP continues to whipsaw within a range
The USD remains strongly bid going into the final month of the year.  Taking tenuous counter-trend trades is not an easy way to make pips. With a positive UK Services PMI release and price breaking its session highs, a long is taken risking 18 pips for a po...

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Shorting the GBP after the news disappoints
The counter-trend move up yesterday did not challenge the high from Nov. 27th.  After the UK Construction PMI disappoints, we wait for the setup.  When price closed below the Asian low, a short is taken with an 18 pips stop loss and a potential reward of 90...

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Riding lower highs on the GBP
A quick glance at the 15 minute GBP chart shows a series of lower highs as it cascades downward. Looking at the larger intervals that many institutional traders are paying attention to, indicates the same bias or downtrend. As price tests and fails to close...

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AUD reversal - an old favourite
As the UK session got underway, a familiar pattern manifested on the AUD.  After the first candle closes,a short is taken with the intention of making it down to the Asian session low...or as close as we can get. When the AUD has a big move in the Asian ses...

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GBP long as USD weakens ahead of the holiday with position squaring
Counter-trend trades have set up this week in advance of the US Thanksgiving holiday. The UK second estimate GDP number came in on target and buyers entered the cable.  With a stop well below the Asian lows we enter long - meeting our 3:1 R/R ratio minimum....

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Smaller safer moves work too
A very interesting week concludes with the Draghi's dovish comments creating a huge sell off in the EUR. The SNB's Zurbruegg announcing that they are prepared to buy foreign currency in unlimited quantities because the Franc remains overvalued and the PBOC ...

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GBP ups and downs
A positive retail sales number helped move the GBP higher in the beginning of the session.  As price topped out just over our Target 1 and began to roll over - closing below yesterday's high, an entry short set up. We had little time left in the trading ses...
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