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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