These 1st 7 trading days have been a nightmare for me with sterling. SHEESH! The market pushed to highs and lows and yet still remains rangebound. The volatility, too, has been intense as players jostle for position in the year open. Nobody wants to miss the monster rally of 2013. Both bears and bulls have been shook out and made money. It hurts but there still a lot of new year left. It is important to admit to the pain, analyze mistakes and make the next decision. Timing has needed to be perfect and fearless. Yet this is always easier said than done. A $GBPNZD short at 2.00 was a beautiful opportunity but the volatility on NFP day shook me and faked me right out of the trade. Other traders have been sharing similar frustrations in the market. Thankfully, there are others still who are seeing very clearly and their shares have been a guiding light to (some) clarity. That is the beauty of the market…and the stream.
- Forex Chart Review: The Power of 50 – Carving Out A Large Swath Of Key Pivots? (Dr. Duru 122)
- Stop hunting absolutely everywhere and on both long and short sides – exasperating (Twitter)
- Cable still rangebound b/t 1.65 and 1.6350. Frustrating (StockTwits)
- Beware of 1.9750/98 zone on the seemingly bullish GBP/NZD (StockTwits)
- GBP/USD and EUR/GBP – Deutsche Bank sterling forecast for 2014 (Forex Live)
- GBP/USD Update (50’s Blog)
- Foreign Exchange Morning Update (World First)
- Janet Yellen: The Sixteen Trillion Dollar Woman (TIME)