First i´d like to to thank the weak pound for staying with me for over a week 
As i got to work outside the the trading desk, i had no other opportunity as to trade on a longer timeframe than my usual trades are chosen.
As i watched contest standings today, i saw many changes in the top 20. This shows me, that many contestants where speculating on a rebound, after having taken profits. Otherwise, many traders were stuck in the short term EURUSD consolidation, having lost their profits in EUR shorts.
This is exactly what i wanted to avoid, as said in my last blog post, as well. I dont wanted to stay in the mainstream currencies like EURUSD and USDJPY, cause i guessed it will be really hard to get the pairity trade, EURUSD @ 1.0, in a few days.
Instead i shorted the pound all the way, and im still holding my shorts.
My "indicator" for the pound pairs is GBPJPY, as i only consider the price to tell the truth about actual and future price movements.
So, when GBPJPY hits 175/175.50 ill cut my shorts, and ill probably take some longs.
Thats my hint for you traders being invested in GBP pairs, as well. Never try to catch a falling knife! Sorry, but i gotta say this right here
So, good luck, stay focused and relaxed sportswomen and men !
As i got to work outside the the trading desk, i had no other opportunity as to trade on a longer timeframe than my usual trades are chosen.As i watched contest standings today, i saw many changes in the top 20. This shows me, that many contestants where speculating on a rebound, after having taken profits. Otherwise, many traders were stuck in the short term EURUSD consolidation, having lost their profits in EUR shorts.
This is exactly what i wanted to avoid, as said in my last blog post, as well. I dont wanted to stay in the mainstream currencies like EURUSD and USDJPY, cause i guessed it will be really hard to get the pairity trade, EURUSD @ 1.0, in a few days.
Instead i shorted the pound all the way, and im still holding my shorts.
My "indicator" for the pound pairs is GBPJPY, as i only consider the price to tell the truth about actual and future price movements.
So, when GBPJPY hits 175/175.50 ill cut my shorts, and ill probably take some longs.
Thats my hint for you traders being invested in GBP pairs, as well. Never try to catch a falling knife! Sorry, but i gotta say this right here
So, good luck, stay focused and relaxed sportswomen and men !
