Mid-Week Update

“I will not allow yesterday’s success to lull me into today’s complacency, for this is the greatest foundation for failure.” – Og Mandino

subscribers and followers will no doubt be fairly content with this recent bounce in indices and correction in the DXY, along with all related trades, However, it’s important to stay focused and unbiased.
Remember that the last part of the move can be the most expensive and that we would always prefer to focus on trying to capture 80% and be in a position to be flexible with plenty of dry powder to take advantage of whatever may arise.
No change in outlook or what we have been discussing but remember that we are heading into ECB and NFP. We consider the % play of the moves we were looking at, especially in terms of velocity of move, pretty much done here and will be waiting to get through these two events before reassessing our views/outlook.
Note for active 50Scouts members: *make sure you read out latest update* and keep an eye on your inbox for a free pass to Friday’s daily webinar session (make sure to check your spam folder too).
For newer readers, it’s always worth catching up on our Trading Reflections post.
If you are interested in a more structured way of tackling the business of trading, attending a live daily morning call or a more detailed discussion on the charts we post / trade ideas, don’t hesitate to check out our Premium content.
Wishing you a great day ahead.

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