-Describe the market sentiment
Hell for trend followers or decent move swing traders, I know the calendar was relatively light, but the amount of signals to go long and short is overwhelming, and I can’t even pick a not-trading range because it’s too wide, I’m trapped and my options are to stop trading or keep trying until the market breaks either way, Ed Seykota’s song is in my head.
So far I had 8 false signals in a day, and that’s a record, that’s right, I’ve never seen something like it.
I was trusting on my ‘Speak UP’ pattern to provide some clear signals as the trendlines widen, but so far it’s not the case.
And these big spikes both ways are telling me 2 things, that traders want direction or they want to go bear/bull hunting, unfortunately… I’m both.
Not only that, my USD/JPY trade also got a breakeven and my Nikkei short once again hold that horrid trendline.
-Describe your biases if any
None… I know I’m in no man’s land, both sides have big potential to give significant profits.
-Post Relevant Data
Can’t post charts right now.
-The Good and The Bad
The Good: I’m still alive
The Bad: I officially had the worst month ever, after the two best months ever.
Well, there’s some thoughts I want to write down.
- The day of the FOMC when the Aussie broke lower I knew I had the chance to get short but I didn’t want to trade, I had recently bad experiences with news trading and that kept me away. Thus said, I knew the consolidation of this process could be substantial and maybe the next week (this one) would be hard to trade, and it seems I’m not wrong with that, yet here I am trading noise.
- I’ve missed many trades in the beginning of the month, many big profitable trades, sadly, I catch very little of those good trades, and yet here I am, trading noise.
- Next week will come with some Aussie releases, maybe that will get this pair going somewhere.