Monthly Summary:
Number of Trades: 15
Winning Trades: 8
Losing Trades: 7
Total Pip Gain/Loss: -243.1
Yesterday
Yesterday Pip Gain/Loss: -278.2
12 Dec 2012 Daily review by myfxpedia.com:
At start the European session yesterday we got the unexpected growth of German Zew index that help boost the Euro to the upside and then came the confirmation of the Swiss National Bank that will charge interest on the money deposited and this again help the cross pair EURCHF further. Beside that there was no actual exciting news that paint a rosy picture at all for the global financial market.
In fact, we had much worse news than first thought but market just ignored any depressing new for the time being. It’s Xmas probably. Anyone think this market is being manipulated? Here, we have US trade deficit being widen up to 4.9% to $42.2 Billion, yet market rally. Oh well, they are under a mountain of debt anyway so a little more would mean nothing to anyone, I suppose.
Personally, I do think the market is being manipulated and it does seem as though a perfect storm is in the making and over the coming months, I say within 3 to 6 months time we are going to have a crash or at least a deep correction before a monster crash brought upon us. Well, let see what the next 6 months bring.
Impact News today:
04:30 am (NY) GBP – Claimant Count Change
12:30 pm (NY) USD – FOMC Statement; Economic Projections
02:15 pm (NY) USD – FOMC Press Conference
Trading Positions:
We were stop out of our long in AUDUSD, the prices is very extended but because of trading condition for this festive season is very unpredictable so We rather cut our lost and patiently wait for prices getting to the extreme level then we will rejoin. As we have many times saying that this December month trading is very unpredictable and it’s getting worse as we draw near Xmas. So, remember if you have to trade for whatever the reason, only trade with small lot sizes and prepare to widen your stop as the spread will certainly wider than you ever seen.
Below are charts of NZDUSD. This pair has been over extended and at around this level and up 86 level which we would identify as a Terminator Zone. So, we are sell into this pair base on Divergence on H4. I have another pending sell order in which it could have one more leg up on H1 to create a Negative Divergence with over bought on H1 which in turn will be in tandem with H4 for a down turn.
NZDUSD – Daily
NZDUSD –H4
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