There has been a little bit of movement this morning, but a noticeable lack of follow-through. I’ve taken 5 trades this morning, all on pull backs in clear moves. 3 of them have stopped out (USDCAD, GBPJPY, and AUDJPY). I’m still holding GBPUSD and NZDUSD, which keep flirting with my entry point, but not really establishing a clear follow through. I just took two more trades- one on EURJPY on a pullback, and a second entry on AUDJPY on a…
This morning is an early start because of GBP Bank Rate news. Because of the difference in Daylight Savings Time, this occurs at 7:00 my time instead of 6:00, when I probably wouldn’t trade it. Trade plan this morning shows a mixed bag. There are some pairs that are clearly on the move, but more of the appear to be range bound. The Euro is especially pronounced, with a downward move of 103 pips overnight. There also appears to be…
Starting another trading day. Just a quick review of the week, since I procrastinated and didn’t get any posts done for Monday or Tuesday. Monday there were some good overnight moves spurred on by news of progress on Brexit. I tried to trade some of them, but by the time I got the market, they had all collapsed into sideways action. I ended up taking 5 trades with 5 full stops, for a net of <52.3>. Yesterday (Tuesday, 3/20) was…
This morning’s trade plan showed mostly CDM’s, although a few of them were just barely. USDJPY and CADJPY are in a range. GBPJPY went back into a range right after I completed the trade plan. NZDUSD is in an RBO and has not yet moved enough to establish a CDM. Entered EURJPY and GBPUSD just before NY open on YL entries. Took an RBO short on CADJPY, and a YL on EURUSD. My GBPUSD trade stopped out. Now down <10.1>…
I’m going to try something new today, and write the post as a sort of “stream of consciousness” – i.e., write it while I’m trading (during breaks in the market action, of course). The market looks very indecisive this morning (at 6:45 CDT). The EUR and GDP pairs technically qualify as being in CDM’s, but just barely, and they are already pulling back. AUD pairs are in a CDM, but it’s not a very decisive one – only around 40-50…
This was the opposite of yesterday! On doing the trade planning prior to the GBP news (at 6:30 CDT), all the Yen crosses were in CDM’s long. I watched the GBP news, but didn’t trade it, as there was initially not much movement. I went to take a shower and came back before the USD CPI news at 7:30, and found that GBP pairs had made a move, but they were a little slow to develop after the news. By…
Today was one of the slowest trading sessions I’ve seen in a long time. There was one CDM when I did my trade planning around 9:00 AM (CDT). I did take a YL on that (GBPUSD), but was stopped out. I had a couple RBO’s, all of which closed back inside. Ended with 4 trades, down 22.1 pips.
I felt like the market was toying with me. I kept on taking trades that would look like they were going in my direction, then go sideways, then reverse. No follow through on anything except for GBP after the Brexit news tapebomb. 10 trades, only 1 win, 9 losses. Net <79.3> pips (-3.63%). This was something of an experiment in that I made the decision not to follow my standard practice of cutting off my trading after being down 50…
Today’s trading session was a lot like yesterday’s: It started out slowly, with a lot of ranges, but then picked up with a surge at the end. The one clear movement coming into the market was the weakness in the British Pound, based on renewed Brexit concerns. As I came to the charts, both GBPUSD and GBPJPY had clear directional moves short that had been continuing for a couple hours. But as so often happens that time of day, the…
What started out as a very lackluster morning – nearly everything was ranging – ended up being a very good day for my results. I started out taking 2 trades on the US Durable Goods news, along with the release of the new Fed Chairman’s testimony at 7:30 (CST). Both trades were stopped out in fairly short order, so I started the morning down 20 pips. I got back that 20 on an EURUSD trade that I held for a…