For those who were watching in the wee hours of Monday morning (March 9) you saw the EUR/GBP break through its 800 sma at about 0300 EDT. Unfortunately, I was not paying attention and missed the trade (thus, no addition to the totals on the right). Had I been paying attention, I would have made about 150-170 pips on this trade (and these are super pips, denominated in Euros, each worth about 1.5 times the average USD denominated pip). The pair is in a period of consolidation now, moving slowly upward, but within a narrowly defined range. I'll be watching to see if something shapes up with this pair, and hopefully, will not miss the boat this time.
And while we are on the "boats missed" topic, the big move in the Swiss pairs today was also missed by yours truly. Not for any reason other than that I am sick and trying to work and trade when I'm on cold drugs is something I try to avoid. I only found out about the move when a reader pointed it out to me. If you look at the GBP/CHF hour chart prior to the move you'll see the type of channel there that I usually like to trade. There were several hundred pips there which did not get taken (by me, at least - hopefully some of you were watching and got in). No bad feelings here though, while the EUR/GBP is one I should have caught, "no trading while sick" is one of my rules. Plus, in the Forex market there is always another opportunity right around the corner.
Happy Trading!
And while we are on the "boats missed" topic, the big move in the Swiss pairs today was also missed by yours truly. Not for any reason other than that I am sick and trying to work and trade when I'm on cold drugs is something I try to avoid. I only found out about the move when a reader pointed it out to me. If you look at the GBP/CHF hour chart prior to the move you'll see the type of channel there that I usually like to trade. There were several hundred pips there which did not get taken (by me, at least - hopefully some of you were watching and got in). No bad feelings here though, while the EUR/GBP is one I should have caught, "no trading while sick" is one of my rules. Plus, in the Forex market there is always another opportunity right around the corner.
Happy Trading!
