Another down week for the USD. Forget dollar bottoming. Seems as if the US powers that be just dont care about dollar strength. But you know who cares even less? No, not just me, but ENTIRE world. Some will argue that weak dollar policy is good for economy. I am not a fundamental trader and I have no conclusive thoughts on the dollar strength. All i care is about a trend and a what a nice trend we have.
In terms of my trading for the week here are my thoughts. Easy to say, looking back I would have liked to enter in more positions that I did. For the most part I stuck to my plans. The positions I exited early and did not take would have been in my favor now. It's easy to look back and say that. Discipline, Discipline, Discipline. I am more confident then ever in my strategy. It proves me right week after week.
I am still short usd/chf. I am waiting for some set ups in gbp/chf (market has not determined a trend yet).
I am waiting for pull backs in usd/cad, eur,cad to go short. I am waiting on pullbacks in eur/usd and gbp/usd to go long.
Overall this is a great market if your on the right side. The key is to identify the trend and stick to your plan.
Now its party time, TGIF.
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