Friday, July 14, 2006

Forex Trade- 7.14.06

2:10 pm EST- No trade

Well today was full of economic reports but unfortunately I didn't see any good entry points. It wasn't until 9:45-10:00 am EST that I came close to taking a trade. Consumer sentiment was only marked as a yellow event on Forex Factory, but because I wasn't in a trade, I waited to see what the 9:40 and 9:50 candle would do. At 9:50 we saw a big move which caused a breakout. Because this move was volatile, I treated it as if it were a regular news candle and stayed out of the trade, deciding to wait at least 20 minutes to take a trade. After that move, I did not see any further breakout or signal trades and ended up staying on the sidelines today. Overall it's been a strange week but I'm staying optimistic that the next week will bring in better trades. Have a great weekend everyone! ~Big Pippin

Results: +0 pips

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