Buenos Dias N and everyone else,
There I was last night posting that markets could be quiet after last Friday's shock NFP data release and what happens? Yes Simon, forecasting and you go together about as well as politicians and tell no lies! Its price action that dictates to us whats happening and nothing else for sure.
The week starts off with a bang on the G/U with a short entered on the opening 08:15 bar at 64217 (max adverse excursion was just under 3 pips) and price chugged on downwards without looking back until my exit during the 09:20 bar (taken out by tightened TS) at 63584 for a very welcoming 60 plus pips profit. Banked that for this pair for the day.
Bit of a copy cat trade on the E/U, opened a sell stop order at 48447 which was filled sometime during the 08:25 bar with no real MAE to panic about, price headed on south and I was taken out during the 09:25 bar at 47894 for 55 pips profit - banked that for the day for blah, blah.
The chop monster snapped at my heels on the E/G and managed to sink its sharp teeth into whatever direction I traded - ouch! Took a long at 08:25 at 90492 and had to promptly stop-and-reverse (SaR) during the 08:55 bar for a 10 pip loss then my new long position was taken out near the high of the 09:55 bar for yet another loss of 12 pips - two on the trot equals bye bye E/G for me today.
N, your corrie was great for all trades (good and bad!) this morning and there was nothing to be done when G/U went up the hill and fell down the other side after the initial and nice drop down first thing post London picking up the bun fight, and at this time of posting all my favourite crosses (well, apart from that naughty E/G!) seem to be caught in a small moving range so I'll probably leave the pc screens for a while and go and get all the Christmas stuff down from the loft as my youngest daughter made it very clear over breakfast that all the shops had theirs up, so where is ours? Ahhh, the logic of the young!
Trade well and regards,
Simon.
