Again when semtiment and fundamentals couldn’t be ignored, looks like the markets were getting spooked by covid and the safe havens like the dollar came into play, I would say my trading week revolved around sentiment and ignoring the news.
Brexit, again floated around the periphery and the dollar started to gain traction, although I’m not sure if it knows what’s driving it, the elections being just over the horizon it maybe just flexing its muscles or been given a covid steroid injection.
Take a position I took Friday, now anyone who reads my posts know recently changed my strategy and will only take a trade based on strong signals, GBP/USD came up on a 4 hour chart, sell GBP short took it put a really tight stop in but thought it would give me enough air to breathe 50 pips, now also remember sentiment was with the dollar, no fundamentals within 15 minutes the market moved against me and stopped me out.
Hey ho the joys of trading, my week on a whole a bit up and down.
-33.8 pips down
best trade of the week SPX500
worst trade of the week GBP/CHF
Hit rate 67% for month
Taking a break next week, closing the computer, getting some well deserved R&R
Going to get myself prepped for the final quarter, should be interesting Covid,Vaccines, Election in the States, Brexit, should be plenty of opportunities.
See you in a fortnight.
Trade well.
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Last 2/3 days GBP/USD was very much volatile. That’s why I didn’t open any trade but one. Took a buy on GBPUSD it went 20 pips in favour of me then showed different sign so I closed the trade at break even.
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The signals I got off this trade were very strong, and indicated a quick movement down, as you say the market was volatile and to be honest it was a punt trade for a quick return.