The Week Ahead

May 11, 2008 22:07 by JEB

It's Sunday night, and I've cancelled the USD/JPY order I placed Friday.  The pair did not respect the rising trendline as support and closed the week well below it, never rebounding and hitting my buy limit order.  So I've cancelled the trade, since there's no longer a good reason to keep it in place.

As I look at the major pairs that I watch with the new week already underway, I don't see any opportunities jumping out at me at the moment.  There are a few pairs that are in nice trends that are currently retracing (USD/JPY, EUR/USD, USD/CHF), but the entry doesn't feel quite right yet in any of them, so I'm going to sit tight for tonight and see what happens tomorrow.

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Categories: Discretionary Trading
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