Tuesday, January 19, 2010

Roller Coaster

Till Friday last I was in full control of my faculties, making reasonable success of riding the forex bull. Some time yesterday and early parts of today lost sight of the objectives and started digging up signals were they did not exist and paid for it. Just now recovered from that oversight to make good my losses by listening to 'what the market is telling' rather than what I - wanted to hear - my usual failing.

I use to remind myself of not making the same mistake again, but stopped doing that long back. Come on to err is human, so I do not care as long as I can bring my self back and go two steps ahead for that one errant step back.

USD/JPY : the daily trend is still up but not sure when the correction will get over.
USD/CHF: daily trend is up but do not know entry levels now. opposite for EURO naturally.
GBP/USD: daily trend is up, but do not know entry level.

In short it would be best to stay away for a day or so till some clarity emerges. At least next two days I shall not give in to my usual failings!