Probably Dow Nasdaq and S&p was behind the forex move today. I had a good day at forex . At the time of writing this blog, the numbers in the market were looking pretty awesome. Dow up by 200+ points. Now when the US stocks soars up, traditionally YEN goes weaker. And that’s what we have seen today thus far.
Personally i made 50 pips today. I knew i left a lot of pips on the table but those who are following me knows that i was not having good trading session for last few weeks. I was desperate to win some pips in the bank and have my confident back. Felt really good to win.
This is what i saw 45 minutes before the New york session open. Eurusd was in clear directional move while Eurjpy was in range. I wanted to sell Eurusd on a pullback but missed the trade by half a pip. I could have had at least 25 pips out of that trade. Missed but not feeling bad. The biggest over night mover was the GBPUSD and GBPJPY. I was looking for a good zone on a pullback to get in the trade but i was little skeptical as i have been hammered by these two pairs not so long ago. I did buy GBPUSD but was quickly stopped out. But meanwhile i also bought gbpjpy and won 20 pips very quickly. According to the over night data, it looked like GBP would be moving a lot but that did not happen. It moved but very slowly. AudUsd was also trending but i did not win the trade. Punched out with -5 pips. I read Audjpy in range so was waiting for the range breaks. It broke to the up but by then i was tired so didn’t play the range break out. Made some good pips with CAD pairs today. Range break out on USDCAD and pullback on a clear directional move on CADJPY gave me majority of my earning today.
so overall, a good day in the office. confident boosting day.
24th May, 2016