This week has been one of the most difficult weeks to trade since I remember, not because the results in my trading (because I didn’t place any trade this week) but because how the market behaved in the long term charts.
You see, I trade based on what the market behaves in the long term chart, I analyze them and decide in which direction I’m trading that particular currency pair, and to tell you the truth, I saw no clear direction in most currency pairs and crosses. Good I stayed in the sidelines this week.
Possible reasons for this “misbehavior” : Interest rate announcements from the JPY, AUD, EUR and GBP, recent interventions of the BOJ, NFP report, talks about the Yuan (CHY), G7 meeting this weekend.
How did you do this week?