Cable

Caught the cable on a breakout trending trade. Shallow pullback, resistance trend channel breakout+ CCI oversold exit signal. Quick, clean trade. I like.

Cable

In this session, verified that the london market began with a slide, followed by rise till 9.45 US time, then it slid after that. Volatile as usual, but in the context of a Euro debt crisis vs a US debt crisis, it seems like the Euro and Sterling actually fell, and the USD went up. Fundamentally, USD should go down too.

For Cable, once 1.63269 gives way, it should be sliding down some more.

Trying day again

Today's trading session strengthened my believe on trading beyond 930. Trading too early got me caught in a range market. Frustrating and money losing. Luckily i caught the outbreak this time round.

Observation#1- London timing up, US follow
Observation#2-This situation is more of GBP strength, coupled w a bit of USD weakness, the Eur did not strengthen as much. Gold was did not gain much also, so there was inherent strength in GBP

News- Fundamentally, expecting BoE meeting minutes. If quantitative easing approved, Sterling expected to sell off.

This piece of news had no bearing on today's trade so far.
Made about S$20 today from a drawdown of -$40

First trading session

Lots of ding dong in the early session of the trade, taken out at every single direction by sharp spikes. The early morning of the US session could be the reason why it was more volatile. Took note that the trigger timing was 0930, the opening of the DJI. The trade actually went higher before reversing. The two inverted hammers are the giveaway for the day. I should heed the advice of trading with the trend. The bollinger indicated that the trade was neutral, i should have left it as it is and look for the weakness to short. Looks like i have a better plan now.

Went from -70 to +6 for the day. Good achievement, but bad trading in the start.