Hello and welcome to today’s adventures in the Forex Jungle.
A bit of uncertainty in the early period of the day for me. My 15 & 5 min charts were giving out long signals, while the 1 & 4 hour charts were giving out short signals. The Daily chart was backing the 1 & 4 hour charts, so with that in mind, I entered a short trade @ 1.6095. Initially it went well, but on getting to the mid 1.6070’s, it turned & began to climb. On this occasion, because of earlier uncertainty, I decided that discretion was the better part of valour, and jumped ship with a 9 pip loss.
This turned out to be a good move, as my 1.6130 stop loss was hit around 08:25. Knowing that the claimant count change news was due at 09:30 I waited. When the figures were released, I could not believe what I was seeing! But I’m an old cynic, and I feel that nobody else can massage a figure like a Tory can.
I still feel that the £ is going to come under pressure, so with that thought in mind, I set an order to open short @ 1.6080 and I would be looking for 30-40 pips. The trade was triggered just after 09:30, but by 11:15, I had had enough and decided to bail out for the day, closing @ 1.6064, a 16 pip gain. However, take off the spread plus the 9 pips lost earlier, and I was left with a paltry 4 pip gain. No real complaints in that dept. though, as I always say, a profit is a profit, no matter how small. The account is now resting at £615.00
I would like to go back to the earlier rant on the claimant count change before I finish off. There has definitely got to be some serious manipulating of figures back at Tory H.Q. How the hell do you correlate the numbers of people in work falling by 27k, to a fall in the numbers of people claiming benefit by over 10k? Sorry but that does not compute! These thick, chinless pricks are going to drag my country into the abyss I fear.
And on that cheerful note, stay happy!
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