This one started well, then ended with a bang (the kind that gets blood on you). This opened on Friday (March 13) after the close of the 0700 EDT bar at 1.2819. Unfortunately, that's all it did . . . open. The pair fell immediately during the next hour and stopped me out at 1.2750 for a loss of 69 pips. I did not open a trade on the sell side as the quick fall indicated to me that there was something going on in the market that I did not understand and did not have time to find out (as I was at work). As a rule, when I think there is something I'm not understanding in the market, I stay out. I don't need to understand everything (no one could), but sometimes a currency moves big for reasons that are not readily understandable. In those cases, I stay out.
I hope everyone had a great weekend. Happy Trading!
I hope everyone had a great weekend. Happy Trading!
