Two major trades this week, Dollar sells off as Flynn agrees to testify against Trump

Current Events:

  • Michael Flynn agrees to testify that Donald Trump directed him to make contact with the Russians
  • USDJPY dropped 140 pips with other US dollar pairs following suit to their own magnitude

I have also been in two trades this week, closing at just the right time as the news on Flynn’s agreement to testify just came out. Luckily, I was monitoring my trades live when this happened.

USDJPYH4
USDJPY 4-Hour

Originally entered as this pair made a test over at our daily level and I recognize it was bottoming out. I entered in this trade with a stop at the daily level (dashed line). My stop loss was readjusted accordingly yesterday placing it off another key level. Unfortunately, there was no avoiding the sell-off since it was due to the news impact.

EURNZDH1
EURNZD 1-Hour

Similarly, a long entry opportunity became present as this pair tested the daily level and held up quite nicely. Similarly I adjusted my stop accordingly to the hourly peaks. Unfortunately, price was unable to push up further as the New Zealand Dollar has been a ranging currency these days.

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