Well another strange week in the markets, the GBP became a Teflon currency, it seems that whatever news came out it didn’t seem to stick.
Last week I said I had shortened my trading week, did it work well the results seem to reflect the change.
I believe my trades were better as the pressure was off and my analysis became more focused, I also found myself trading more overnight markets, in my case the Asian, have found this market very negative over the last couple of months, but my best trade was during this session, I took the GBP/NZD long against trend, against trend being a no go normally, but based on my first statement my gut feeling (not trading plan) was telling me it GBP was on the up.
Also on my weekly trading said I would only take discretionary trades on Fridays, had held copper long last week didn’t work out for me stopped out.
However a strong signal came on Friday took it long on a 4 hour chart, took 50 pips out of it.
252.3 pip up for the week ( 514.52 for the month)
Best Trade; GBP/NZD long
Worst Trade: GBP/AUD short
Hit rate: 69%
No trades open over the weekend.
Trade well my friends.