The daily range of yesterday’s EUR/USD trading, was 65 pips – bang on the Average True Range of this cross for 2014. That’s a 45% decrease on the 5 year figure. It’s also a figure that suggests to me, that the market is unwilling to budge from its comfort zone and yesterday, another prime example as PA was happy to Sell, but only as far as our 1.3585 DCZ, before heading straight back to DP. The movement Short was exactly what we were expecting but the pre-sale PA, too small to give us an entry. Our long suffering S&R trade finally succumbed, delivering us a losing trade and week. Of the 26 weeks now completed in 2014, that is the third that has seen us on the wrong side of the ledger. Though an outstanding record, (two would have been better), I’m a little disappointed as the week closes. That emotion reminds me that we are human and the market not – we must accept what it is on offer when it is and put immediately behind us, what is taken away.
NFP week coming up!
The Day Ahead
For a short while, I will reflect on a 3 from 26 loss/win ratio and accept that in a compressed market – that’s perfectly acceptable. OK, done – now it’s time for the weekend – ENJOY it!
“I cannot prevent the wind from blowing, but I can adjust my sails to make it work for me.”
― Code of the Order of Isshinryu