Last week review
Last week I banked some nice profits. There were some good trades on a ranging market as per my above post. similar trades on Gold and FTSE100..
As per last week review I am still bearish equities and bullish dollar and long term positioned accordingly. I sold my Eur short on thursday expecting a spike after Bernake speech which did happen but my short order at 1.2638 was missed by three pips 😡 what a shame, but never mind..
I think the correction on eur is coming to an end and the time for dollar rally but what is not adding up is Gold strength on Friday. I had gold shorts from last week which I sold on the retracement with a loss and went long but sold my longs with a profit on Thursday and went short again based on weekly resistance however market pierced through this resistance. if the dollar to rally we should see weakness on gold however the chart is looking quite bullish at the moment. I will see how things play out next week and either sell or hold on to these shorts.
I sold my Aud shorts on Thursday but looking to renter on further retracement, the problem in these shorts is the daily interest which is killing, hence I sold them rather than keep them through the retracement.
wish me luck guys ....I could be wrong after all