Discussion in 'Forex Trading' started by Piptaker, Jul 22, 2016.
It was widely anticipated
It's not just the news-- it's how the market reacts to it.
I'll be back posting next year after I've wrapped a few things up, and we are going to be in pip heaven
The model I had in my head for today was that traders would come into the New Year, see that the USD had moved down against everything, and start chasing. In other words, the move has already unfolded over the past couple of weeks, so I'm expecting a bit of consolidation here, as traders get stopped out.
Of course, as I write this Cad jumps thirty points.
Took some small long positions in Cad, AUD, Nzd. Just throwing a line in the water. Not really a scalp, as I think they could move more than 30-50 points. That being said, they all have already done that, so I'm looking for bigger TF players to come in.
Closed out at a loss overall.
Short UsdCad from 1.2537. Got in too early after Fed Minutes release. Anyway I knew I wanted to be short, anticipating TL break. It just came from a little higher. Still holding-- don't think USD anywhere near a bottom. It's been about a day plus correction so far-- not expecting much longer. Looking to exit around 1.2475 if tape holds up.
USD Cad sticky around 1.2510. Been in and out couple times, still holding short. Long Euro from 1.2066, looking for a push up to 1.2080 and beyond for a scalp.
"Money is made by sitting, not trading" said Jesse Livermore.
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