So what happened yesterday?
first lets look at the trades and orders from yesterday:
cable trade got stopped out at 1.5540. reasoning: technicals, stops being taken out, and good economic data from the UK.
lesson learn't: follow the trend!! do not act too quickly!! i wasn't very convinced with the trade but i still did it. so i'm going to make sure i dont make the same mistake again.
my order on usdjpy also got done at 87.70. for now my plan is to hold on to this level. and leaving an order to take profit at 87.20.
Now lets take a look at what to look out for today:
we had the Aussie CPI figures that came out earlier in the morning which weren't as good as forecasted, which is why we have the Aussie running lower at the moment.
in the UK we have BOE governor Mervyn King's speech before the treasury committee in london at 8.45am GMT.
in Europe, we have the July German CPI data to look out for.
The U.S has the durable goods report at 12.30am GMT and the Fed's Beige Book at 6pm GMT.
quick thought: markets still look bullish on all fronts. So i will look at hitting some bid orders today for another move up. hopefully i can recover the loss i made yesterday!
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