Dollar rallies after ISM hits 11-month high
I made a highly speculative trade in this trading session. I shorted GBP/USD 2.0060 at 2.59 pm (30 seconds before the release of the ISM manufacturing report). My USD bull bias was obtained from my "hidden gem" short signal seen at 2.48 pm and also another "hidden gem" signal appearing in the EUR/USD pair at the same time.
At 3.00 pm, a better than expected ISM report came out and hence confirming my USD bull stance. However, I was again disappointed by my exits (1/2 at 2.0040 for +20 and another1/2 at 2.0020 for +40). I left plenty of pips on the table as I couldn't manage to follow my simple exit rule. I must learn to recognise & hang on to this type of move which was simply driven by the fundamentals.
Short GBP/USD at 2.0060 (Exit 1/2 at 2.0040 and 1/2 at 2.0020; average +30 pips)
Confirmation of "hidden gem" signal in EUR/USD pair. Similar USD-bullish moves could also be seen in USD/CHF and USD/JPY pairs too.
3 comments:
It's real fun to check out other trading blog and see how other person traded the day. I was by the screen from the European morning so I can really easily relate to stuff you post today. I even made trades. Check them out at
http://forexintradaytrading.blogspot.com/
I wish you good trading forex mate.
regards
I really enjoy your site and recent postings. Your stuff is pretty insightful.
I wish you good too forex pal.
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