A very active Asian session followed by a continuation move in the UK session. I don’t mind a large Asian session move, but my preference is to catch a reversal move – not to chase an extended move. The EUR weakness continued as the UK session got underway and the GBP got hammered.
As the US session got underway the JPY made a third lower high for the day. The idea was to ride it down to the Asian session low, which also corresponded with our Target 1. The risk was 11 pips for a potential 49 pips of profit – can’t argue with that. Unfortunately the market had other ideas. The pair moved down and bounced upward without testing the 97 figure. We close for minimal gains.
Good luck with your trading!
Hoping for a more productive day tomorrow.
