Wednesday, August 26, 2009

Weekly Trading Update

Well it's been a difficult and frustrating couple of weeks for me on the trading front. There was just one trade this week using my main 4 hour trading strategy. Admittedly it did bring in a small profit, but it wasn't exactly an overwhelming profit.

The trade in question was on the GBP/USD pair and took place yesterday afternoon. I was (and still am) waiting for this pair to close below 1.6425 on the daily chart in order to begin a new bearish trend, but the fact that it failed to do so, and actually moved up to create an upwards EMA crossover on the 4 hour chart, gave me confidence that I could bank maybe a few hundred points profit in the short-term.

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