One step forward, two steps back
Getting an early start due to the ADP news at 7:15.
Seems like it was a pretty good miss – 241K vs expected of 210K – but there doesn’t seem to be a lot of movement, at least initially, so I’m not going to take any trades on it.
After the news, I had YL trades hit on both the GBPUSD and the GBPJPY. Since they were probably being driven by moves in the shared currency (GBP), I determined if one of them stopped out, I’d take the other off too. Sure enough, GBPUSD stopped out pretty quickly, for <10.1>, and I took GBPJPY off for <6.9>, which saved me 5 pips, since it also continued a deeper pullback and would have topped out.
Now down <17>. Now to consider re-entries.
Re-entry taken on GBPJPY on further pullback. Short taken on CADJPY on a pulback. Re-entry also taken on GBPUSD, and then both GBPJPY and GBPUSD stopped out. Done with those two for the day. Now down <39.2> early. Not good.
We’ve clearly moved into a no-follow-thru mode. When I did the trade planning, there were only 3 pairs in ranges. Now there are 6, and a few others that have had big pullbacks, but are not quite back inside ranges.
Took a short on USDJPY on a pull back, and got stopped out for an additional <10.0>. Also took market entry on USDCAD on a pullback. Now down <49.2>, holding CADJPY, NZDUSD, and USDCAD at 8:41 CDT.
Punched out of NZDUSD as the range break didn’t go anywhere and the candle closed back inside the range. Lost <4.5>, now down <53.7>.
Both CADJPY and USDCAD stopped out for <12.1> and <10.1>, respectively. That puts my losses at <75.9>, which is over my line in the sand, and I’m done for the day.
So much for making ground on my goal for the month.