Getting pips is proving difficult due to lack of volatility in the morning and small range breaks. Last week I noticed that more breakouts occurred between 2 - 4pm around when the yanks started trading.
I also followed a few forums and looked at some expert analysis, and none of them are very clear on direction. The question is are we out of recession? Has the dollar recovery began and faded away? I am not sure anybody is any wiser than you or me?!
Because I am focusing less on the other currency, I am a bit out of touch with the slower moving pairs. In addition, I have two new strategy's on my plate which I am testing at the moment. At the end of the week I celebrated my day of birth, I had an interesting weekend!
Onto this morning, Happy Martin Luther King Day if you are from the US and reading this blog. Because of this the Americans are on holiday today. For all my complaining, cable gave signs for a slow long trend this morning.
No yanks later to stir the market did not worry me too much on volatility. The Americans are normally not awake anyway at this time of the morning. My only concern was a small possibility that no over night US news could keep volatility low.
It proved correct and it was a slow march up this morning. I entered the trade after it broke the pivot, I should have been in earlier but wanted more certainty. 16332 and exit at resistance 50 level, It so happens I got out way too early, had I used a trailing stop loss I could have easily taken 60 - 80 pips .
After last weeks performance money in the bank is whats required. I took the 20 pips and very happy with them too! Cant leave without touching on the horrific earthquake in Haiti, they have many peoples thoughts and well being with them at this time.
No comments:
Post a Comment