Sentiment has changed a bit for the dollar. Whether its end of the year squaring (deal desks are thin) or traders are less risk averse, I noticed that the dollar was giving up its gains i.e. higher highs and higher lows on gbp, euro, etc. And as usual, I waited for a pullback before entering on a long gbp/usd. I chose to enter on a retest of recent highs as opposed to waiting for a deeper retrace (fpp). It did pay and thats the point, to make money! On the usd/cad I scored a few points off of that, but the usd/chf did not follow suit. The pullback was too far and took out my stop before moving off of my level
Thursday, November 27, 2008
gbp and cad trades
Sentiment has changed a bit for the dollar. Whether its end of the year squaring (deal desks are thin) or traders are less risk averse, I noticed that the dollar was giving up its gains i.e. higher highs and higher lows on gbp, euro, etc. And as usual, I waited for a pullback before entering on a long gbp/usd. I chose to enter on a retest of recent highs as opposed to waiting for a deeper retrace (fpp). It did pay and thats the point, to make money! On the usd/cad I scored a few points off of that, but the usd/chf did not follow suit. The pullback was too far and took out my stop before moving off of my level
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