Thursday, February 21, 2008

Greetings...day two of the Einstein Opera....

Well nothing much happening during the US session.....we had the UK Retail sales come in earlier at waaaayyy above expectations...and yes the cable rallied....

I saw a perfect set up in the EUR/GBP to go short with a doji or morning star what ever the hell its referred to in the candle world.....and even tho i don't usually trade that pair (partly coz its like watching paint dry!!) the set up was too good to let go...the Risk to Reward was good...plus remember 1 point in the pair is worth 2 bucks so.......

I also saw upward pressure building up in the GBP/US.. halfway into the Japanese session.....but didn't take it coz the strong trend was down and no point in going against the trend in two trades......

This morning I did take a small short in the GBP/JPY closed it for a small profit...again it was the doji in the 1 hour set up which was too good to pass....it was a high risk so I went with 10% of the normal size......

looking forward to much to do about nothing for the rest of the session I guess.....

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