I feel like elite forum is more home but I have been at investing.com for a while since there are more active traders there. I have improved a lot - winning rate is over 90% now. I hope you guys are all good too
Kind of quiet in here. Echo! (Echo, echo, echo). Hope all are well. Been back hammering at it again after a few months helping a friend set up his truck. Paying more attention to risk now than anything. I'm still over trading I notice. I say I'm not going to do that then all of a sudden I realize it's happening again. Most of it comes from not wanting to miss an opportunity, I believe. Anyway sitting on my hands ahead of Fomc minutes. Glad I got out of my euro shorts ahead of things. Sometimes following the rules actually works (don't trade ahead of a news release). Ground my way to down slightly on the day and night. Not fun but it could have been a lot worse. Euro back to a familiar range 1.1730-40 as I write. Commodity currencies up good on the dollar so far, while the euro and pound were lagging. Trying to keep an open mind.
Ended up scalping EUR and GBP long out of their trading ranges. Hard to hold on when it's been down, down for days. Back to positive.
Yup, things are going very bad for Pound, especially with households squeezed with inflation spike, letting down whole economy. Without much improvement on the horizon, the bias goes extremely bearish for British currency. For Euro its correction of sentiments, as traders went too far outplaying each other guessing when Draghi makes U-turn. Will have to wait bit more as todays ECB minutes signaled.
Pound should fall again. It's still very bearish and once it hits the key resistance level at 1.289 then I expect a heavy drop (50 pips without news/100pips with news) Euro is also bearish.
Did get caught up in the runup of EUR this morning--NY-- and got stopped on a big lot. Not one of my better trades, as I could see from the chart it should bounce off the lower levels. I'm looking for this am's lows to be taken out soon.
I see Aussie creeping as well. I was short, but covered as I felt the recent weakness in EUR/AUD would continue eventually. Likewise for Kiwi vs pound. Basically the commodity currencies have shown more relative strength as far as I can tell.
Usd/Jpy I can't make out. I look at the chart one way, it's bearish. The other way, bullish. Right now it's saying risk off I believe if you look at it in context with the euro, Aussie etc.