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Oct 11

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Three Signs to stay away today

Sign 1 : G7 meeting to discuss all manner of very important things ( 😉 ) with great meals and fine wine (thank you dear taxpayers). The big guys and girls were meant to discuss currencies…..I am sure that the subject went round and round with not one country wanting to short or long their own currency publicly. So no decision – typical politicians.

Sign 2 : On Sunday night when I completed my Weekly chart analysis and getting myself ready for the forthcoming week I noticed that canada, USA and Japan (fitness day !!!) were on public holidays. So low liquidity expected in markets

Sign 3: Huge gaps over night vs $ pairs, meant this morning was playing “gap catchup”, and I don’t trade these.

So all in all a very unpredictable intraday market  – so I am staying away.

all the best

Jimmy

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Permanent link to this article: http://intradayforextrading.co.uk/2010/10/11/three-signs-to-stay-away-today/

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