There wasn't a lot of volume today, seems to be the trend for Monday's in general. Having said this I did put an order in at around 11:20 below a No Demand bar. This was triggered by about 11:30 and at one stage I was about 17pips up. As it moved around for a while it was getting closer to the US Advance Retail Sales announcement at 13:30 GMT so i decided to close the trade at break even. Just as well really because the announcement would've stopped me out. As you can see from the picture taken only a few mins ago (12:10) it is now below my entry line and the trend is still down.
Trade 1 - GBP/USD (Cable) - Sell @ 1.6061 - Closed @ 1.6061 = 0
Looking back, I shouldn't have taken this trade apart from the No Demand entry, it doesn't really fit my strategy. There wasn't u-high volume on the hourly chart so i shouldn't have been looking to sell at that point. Still, that's why i'm paper trading. Need to get those little decisions ironed out before I start in the new year.
Cheers,
KFT
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