moneyAn extremely busy week for me on all fronts. Seems like phone didn't stop ringing, always somebody in the office. Didn't sleep longer then 5 hours any one day, so last night, afternoon rather, when I checked out, it was for good. Something like 10 hours straight. I needed it. Now I'm afraid my whole sleeping schedule is ruined. Well, that's trading from the West Coast for you. Moving to Europe sounds more and more appealing. Or to Las Vegas, day or night makes no difference there and I'll fit right in.
Dollar continued to get stronger, in a choppy manner though. Nothing extraordinary but I was able to align myself with the direction and squeezed a few pips. My instrument of choice over last few weeks has been
NZD-USD. There were 2 trades there and they produced good results, for this pair.
If that seems easy to anybody, please remember that it also took me weeks before my longer term view finally materialized. Time, most overlooked part of trading. "Be patient" that's the general advice. Yeah, right.
Another cross I've been favoring lately, GBP-USD, also did good for me. Here I also took 2 trades and staggered the exits.
BTW, in our services, we had a trade in AUD-USD almost identical to the NZD-USD, except there was only one entry. Results were also good. On the same note, our website has been updated and can be viewed by following the link below.
http://www.spectrumforex.com/weeklycomments/05202007.htmlLast time I also mentioned keeping an eye on JPY crosses to the downside.
Here his what happened in my GBP-JPY trades. Loss earlier in the week, followed by decent trade on Friday. That was some wicked move.
Friday moves, especially the way it looks on candlestick charts, suggest that maybe dollar rally is coming to an end, well, a pause. But not for long. I'm still looking for moves to downside on JPY crosses.
BTW, how about CAD? What a run!
Husar
