Wednesday 2 January 2008

A Slow-Start, Trading on the 2nd Day of New Year

I didn't trade in the morning but planned to take some signals in the afternoon session, only aiming for a moderate profit target of 30 pips.

I was done with 28 pips before the release of US ISM manufacturing index at 3 pm.

Here is my exit:
Closed short USD/JPY at 111.15 for +28 pips.
(unfortunately, the market dropped another 150 pips without me!)

In summary, today was a straight-forward trending, SELL USD day. The bearish sentiment seems to continue after the news. I will recompile the USD dollar sentiment table at the end of trading day.

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