Plan keeps on working well… especially that swing-long usdjpy.
Overall, I am quite unimpressed by the euro and cable spikes up but extremely happy because these are the healthy corrections I had been talking about. Please keep in mind, slow data day today and no doubt even more ‘circus acts’ on the wires so keep it tight…
I am watching euro, this rally failed – so far – to get close to yesterday’s EOD spike and am looking at all previous resistance areas for possible short entries.
I have shorted cable again and am trailing tight into London open and have a similar strategy to euro.
Keep a close eye on US futures and we need to get continued sell-off here to add short momentum for these Fridays plays.
Overall, for conservative traders, you could just trail you shorts if you haven’t closed already or even just stay safe and call it a week as it has been a pretty profitable one if you were on the right side of this…
Enjoy your Friday!