In this blog post I want to take the time and go over my latest trades and give few reasons as why I took them. First trade I want to talk is GBP/JPY as yesterday I took a short trade on this pair in anticipation of further downside movement. I was expecting more downside pressure on all GBP pairs due to the UK General Election risk. But for the time being the market has proven me wrong. This trade was quite fast because as soon as my short entry was triggered it started moving against me more than 80 pips but as soon as it reached that top it collapsed again near my entry point and I saw this opportunity to "redeem" my position and because it didn't acted right I got out at the first chance I had.

Figure 1. GBP/JPY 10 Minute Chart

The second trade I want to talk is the long USD/CAD (see Figure 2) position that I took it since Monday. My decision was based entirely on the analysis I've posted on Technical Analysis Contest you can red more here: USD/CAD Bullish Flag

Figure 2. USD/CAD 1h Chart

Best Regards,
Daytrader21
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