Hi there
This is Crazy Cat, with the review of the week.
This week, we were watching 4 economic indicators and none of them hit my triggers.
However, I would like to comment UK GDP q/q
We had +0.1 deviation on UK GDP q/q. The reason why I did not want to trade it with such small deviation is a possible risk that the price may reverse. This is exactly what happened. GBP/USD went up by about 15 pips and then it reversed and went down by about 75 pips. I am glad I did not buy on the spike so that no trade was a good signal. I really prefer a no trade than a loss. I know that some people shorted GBP/USD, and of course it worked well for them. It is, however, outside of the scope of my trading style so I simply stayed away.
There are many styles you can try; I have my own style, and I follow it consistently so no regrets here.
Here is what happened:
Forex news trading currency exchange charts
The other reports were very close to expectations so there is really nothing to review.
Have a good Sunday!
--Crazy Cat
This is Crazy Cat, with the review of the week.
This week, we were watching 4 economic indicators and none of them hit my triggers.
However, I would like to comment UK GDP q/q
We had +0.1 deviation on UK GDP q/q. The reason why I did not want to trade it with such small deviation is a possible risk that the price may reverse. This is exactly what happened. GBP/USD went up by about 15 pips and then it reversed and went down by about 75 pips. I am glad I did not buy on the spike so that no trade was a good signal. I really prefer a no trade than a loss. I know that some people shorted GBP/USD, and of course it worked well for them. It is, however, outside of the scope of my trading style so I simply stayed away.
There are many styles you can try; I have my own style, and I follow it consistently so no regrets here.
Here is what happened:
Forex news trading currency exchange charts
The other reports were very close to expectations so there is really nothing to review.
Have a good Sunday!
--Crazy Cat
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