midgely88 wrote:There's not much quality for trend traders out there on the currency front at all of late grantyboy.
I added back oil, gold & the indices onto my watch list from middle of 1st quarter & they've provided additional opportunities to supplement the slim pickings across the fx pairings.
I've also taken the advice of trimming back my profit expectations since the range contraction set in.
Set ups & entries are still in evidence but trade duration & profit objectives have definitely required to be adjusted this year.
Yeah I know what you mean. I've had a positive but very much 3 steps forward, 2 steps back year. Although I did manage to grab 40 Pips from GBPAUD today as it rebounded after the AUD news so was pretty happy to take the profit around 1.828.
I've changed my perspective on GBPJPY which seems to be in freefall. Since it blasted through where I was looking for support, I'm now looking for shorts on any retracement to the same zone around 173.5
I'm wondering if you (or anyone else who might stop by) has an explanation for the drop in volumes and volatility? Is it just market uncertainty or something else?. Timing wise I think it really started to slow down around the time the news came out about Banks rate fixing and currency manipulation. Don't know the validity of the claims but the timing did seem suspicious.