 | Happy Memorial Day!
Those of you residing in USA will enjoy a long weekend. Start of "official summer driving season". That's some classification. Those of us trading Forex, should expect a slower day also. That, of course, is not a guarantee, just recall last Thanksgiving. On balance, however, these kind of days tend to be slower. If it happens, cut short your day in front of computer and go enjoy some outdoor activities.
Just as indicated in this column's last update, our trading week turned out a little slower as before. We had very average results across all 3 of our services.
"Rainbow" had very few trades compared to previous weeks and we managed only few pips in closed trades. We are entering Holiday weekend with 2 new open trades.
"Daily Pound" made a few pips while "Daily Euro" lost a few.
From practical standpoint we broke even for the week. See the section below and follow the link to details. |
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Here are the results we achieved last week:
- Rainbow made us 18 pips in closed trades;
- Daily Pound earned 37 pips;
- Daily Euro lost 9 pips for the week;
Follow the link on the right to view details |
Last week's results.
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Last week we suggested a trade in CHF-JPY. Set up was to go short at 98.30 for a target of 97.80. Price never reached entry level and trade hasn't been executed. Altogether very uninspiring few days for this pair, with a weekly range of about 80 pips.
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We are taking a look at USD-CAD. There is a good chance we are nearing the end of run in CAD. Our trade is to go LONG at the open on Sunday, around 1.0800. We are putting a Stop/Loss at 1.0755 and Target of 1.0860. Should there be an excessive gap on the opening (we don't think there will be), the trade is cancelled.
We wish everybody great Holiday weekend and good trading! |  |
Once again we must stress that the trades highlighted here are only a small sample of our trades. If you have any comments or would like to obtain more information please contact us at info@spectrumforex.com . |
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