That explains the choppy behavior the past 2 days. It makes me happy that this week I'm trading very little. I only like to be involved heavily when the markets are very strong or very weak.
Late today the dollar started back to a stronger stance against the Swiss Franc, the Yen and the Euro.
It took a serious whack earlier in the day, reacting to other markets, such as U.S. Bonds and high oil prices.
Now, only 3 of the 5 weekly FirstStrike trades are still viable. The Gbp/Usd short trade @ 1.9706, got stopped out at 1.9766 for a 60 pip loss.
Remaining FirstStrike trades:
- Eur/Usd: long @ 1.5508, stop 1.5448.
- Gbp/Jpy: short @ 207.09, stop 207.99.
- Usd/Jpy: short @ 104.69, stop 105.29.
Very small profits exist on the remaining trades.
The Nonfarm Productivity report is out tomorrow morning at 7:30 AM CST. That'll likely shake things up a little.
Amazingly the account balance has stayed almost the same, but with different pairs providing the boost. Current equity is $701.90.
Have a good evening.
Joel Rensink
www.infiniteyield.com
PS: To receive the FREE! trading rules for the Infiniteyield Forex Challenge ($499 value) and the semi-monthly newsletter about this challenge, send an email to: newsletter@infiniteyield.com and tell me to which address you would like it sent. Please do not use AOL or Yahoo addresses. Nothing personal, but they've been known to filter out more good mail than actual spam. Try a Gmail address. It's free, simple and perfect for traders!
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