Stepping away from the markets for a day or two can be a mixed blessing. Sure the sunshine is great, the beer cold and the fishing fantastic – but what about work? These days 2 (or god forbid 3) days away from the markets – and you could just as well be looking at a completely new game! War may have broken out, stocks may have crashed, some nutjob may have launched his own missile, man…..my buddies from the planet Nibiru may have returned to pick up more of their gold! You just don’t know what the hell’s gone on until you start digging back in.
Top of my list – several of my beloved commodity pairs are showing relative weakness against both the USD and JPY. At this point it’s just too early to tell, but as it stands I would still be sitting on my mits here this morning regardless of the holiday, as things have more or less traded as expected – sideways. Price action has more or less remained steady/flat in risk in general, but I give a touch larger weighting to these “dips” as opposed to seeing much of anything “blowing through the roof”. I dare say “getting short risk” has poked its head around the corner – but still have considerable reading to do here today.
The moves in both silver and gold appear “healthy” but as per the usual these days – nothing to write home about.
I will spend the majority of my morning reading/reviewing Central Bank statements/news as well getting back up to speed with the planet at large before making any drastic decisions but in “trading what I see” – current trading conditions look a touch cloudy with a small chance of showers in the afternoon.
Glad to be back everyone – lets get out there and make some money.
Good to see you back – it’s great discipline to be able to ‘step away’ from the market – looking forward to your further updates etc as the forex situation develops
Thanks Rolo.
Back at it this morning and getting caught up – I “might” have put on a trade or two yesterday still short the JPY but in not having a clear picture as to “what’s going on” I took the day to read. One thing I’ve found when trading currencies – It’s rare….very very rare that you will miss much in a single days trading, and not have equal opportunity in the days folllowing.
We’ll get back on top of things in the coming week.
Thanks for the comments
Hi kong,
How are you lately? How’s your trade doing?
Careydina!
I am very well thank you – ad I was wondering about you too!
I hope you are doing ok with GBP/USD – wow……it’s been very difficult.Otherwise…I am 100% in cash and sitting another day or so looking to get a plan together. The markets are looking a little tired…and I am taking another day or so to get things figured out.
What about you?
I’m holding pounds go up as sterling has been very weak recently. Will slow down for this 6 months. Wait for opportunity than take the risk. Will explore to eur/jpy too. Any suggestions?
Btw do you have Skype?
Where is that bottom?…. over here…… nope….. maybe over there… no not there either……… LOL…
Good to have you back Kong…. they are flying now….. the wave is rolling… 🙂
Cheers Schmed
AUD giving the EUR back some love…..
taking positions….