Successful start to the month..

Salam,

Here's my trading result for the week:+123 pips.



Alhamdulillah..I waited for the price to correct after it rallied on Monday and Tuesday..I thought that I've missed the boat but the price did retrace back to the LT trendline and I took the opportunity to enter my trades. I entered long position on cable and fibre. Today the price slowly climbed back and I managed to close my position with profits :)

As I am updating this blog, I am seeing that both pairs are still climbing against the USD. Ermm well, I don't see that as a misopportunity for me to gain more profit..there will be plenty more opportunities to come..Right now, I noticed that analysts on top FX sites are giving contrasting view on the pairs on the ST. On Medium Term and Long Term, they all agreed that USD would weakened further...but on shorter terms..still mixed view. So because of that, I closed my position early and practically I think this would be my only trades for the week. Heheh..

Hopefully next week, we can see some clarity on the FX outlook. It has been almost a month now that GBP/USD, EUR/USD and AUD/USD trading on the sideways. Personally, as this month would be earnings results season, I would think that USD would weakened further as companies reported better than expected results signalling that the economy is on its way towards recovery and investors go for more riskier assets. We will see....