Good morning traders.
Not a great deal to report for yesterday or for whats on the cards for today.
We did get a decent scalp short off yesterday from the 1.1220 level we had on the chart which drifted most of the day down to 1.1180 for a 40 pip winner or thereabouts. 1.1175 was our S1 to go long and it remains just above the level as I write this morning. If you are still in it you can either let it run or cut for a break even trade and wait to see how price action kicks off for today. It may still be a good trade but we need to be careful of early moves which might dip down to take overnight stops before continuing to the upside.
I was out of the trade late yesterday for BE as I didn’t like the look of the pa (especially when compared to the USDx which seems to be heading for another test of the 98.00 level) and was happier to wait for this mornings session to see how things unfold.
For today there is nothing on the data slate.
The Hour Chart
Levels as per.
There is nothing to comment on that I have not already said numerous times this week. The levels are clear. the direction is less so. Consequently we trade depending on the context as the day unfolds but only at the levels.
Thats it dear reader. There are times when brevity is appropriate. Today is one of those times. And its Friday – not the time to screw up a quiet but profitable week.
Have a good weekend :)