Trade Results-28th Jan ‘09

POSTED BY Seeni on Jan 29 under Forex, News, Trade Results

We had a very tight ranging day yesterday. I strongly believed that the sterling will crash yesterday but somehow it just kept inching upwards against the Usd. I felt that there were no grounds for the sterling to be so bullish and plus minus 50-80 pips from the 1.4270 area, it should collapse. It did crash, but slightly away at about 1.4380 area. My s/l at 1.4350 got taken out, and it went my way for 120 pips-ish, which is officially a losing trade. Oh well, you hate it when such events happen. As you know your trend was right, your analysis was correct but it just was off by a handful of pips. Anyway, this is a fundamental trade, so i won’t be putting it in my performance sheet.

So, how did we do yday? We had the MA-X-Over system pick out many possible entries, but no confirmations. Overall there were no trades taken;

1) Gbp/Usd

2) Eur/Usd

As for our fundamental trades, we had a fabulous session with FOMC and RBNZ trade statmeent. As expected, the USD was bullish with no interest rate cut and RBNZ somehow wasn’t as expected, but a 150 bps cut instead of 100 bps cut caused Nzd/Usd to tank further.

Hope you made some good pips off this;