Friday 28 March 2008

Back In Action & No Results with JPY-Crosses Friday !

European Hours
No. of signal recommendations: 3
End-of-session results: GBP/USD (+5 pips), EUR/USD (+35 pips) & USD/CHF (+15 pips)
Maximum potential: over 90 pips/ even higher in the post-session hours
Own P/L: 11 pips

What an interesting session! The price action finally broke out in line with the predicted direction. I hope everyone did better than me.

Late Session
No. of signal recommendations: 4
End-of-session results: GBP/JPY(-35 pips), EUR/JPY (-40 pips) , AUD/JPY (-40 pips) & CHF/JPY (-20 pips)
Maximum potential: 0
Own P/L: No Trade

Yen-crosses pairs (carry-trade positions) are always difficult to get a result within short time frame. It was my objective to apply the 'newly developed' yen-sentiment indicator to trade the yen-cross pairs, but so far still without much success. On the other hand, the US sentiment indicator continues to outperform. Next week, I'll set a more restrictive entry criterion using the JPY-crosses indicator. Meanwhile, continue to focus play on the major pairs.

As expected, the top five performing currency pairs (since the start) are:
>> EUR/USD
>> GBP/USD
>> USD/CAD
>> USD/CHF
>> USD/JPY

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