G’day Surfers – wow, what a week!
Well, EUR/USD was granted permission to take off by the Fed and it took up the invitation. As intraday traders, we have been banished to the beach most of the week due to dangerous Surf in the form of an overbought market. Position traders who took long positions this time last week however, have seen some nice action. That our A signals could find only 2 Secret Surfing The Pips Patterns all week says it all – NOT our market. Despite our first signal breaking even and more of our team making the 23 pips available on Signal #2, our official broker took our 15 pips, dealing us a second losing week for the year – back to back! The tiny nature of the drawdown on our a/c (15pips @ 1/4 stake) will cause me no loss of sleep over the weekend however.
It’s all about the German Constitutional Court Ruling & QE3 so Technicals are stranded on the beach with us.
The Day Ahead
On a beautiful Spring evening here in Australia, it’s all about enjoying what the architect has so delicately created and lovingly provided ………….. a large cold BEER!
Have a great weekend everyone, I’ll leave you with a thought of my own…………On one side of the World, a rescue package created by a Central Bank brings some hope for the future and causes it’s currency to gain value. On the other side of the World, a rescue package created by a Central Bank creates LOTS of questions and it’s currency loses value. Mmmmmm – strange days indeed!
And another from a special guest………..
If you’re looking for the safe choice, you shouldn’t be supporting a black guy named Barack Obama to be the next leader of the free world.
Geoff Pyne | Certified SurfingThePips.com Trader