It is Wednesday so the Crude Oil Inventories are released at 15:30. Another strategy that I watch and sometimes trade, it is the breakout of the announcement.
I have had so many laptop issues this morning. I actually thought that I would not get to trade.
However not to disappoint I did…the results weren’t what I expected and there were far more points on offer than I took. The main trades today were GBP/USD and GBP/JPY. Yep that’s correct GBP/JPY. I know I have not mentioned this one before, mainly because I have not really traded it before. I used a pivot strategy for this trade and it worked a treat.
Kofi and I were joined in our chat with a friend of ours Kate.
On to the trades. My first was old reliable Cable. My entry point was 16655 and exit was 16667.9 a total of 12.9 points. Now you are all sat there going there were at least 50 to 60 points available. Yes there were and the level that I really wanted to get in at was around 30-31. I did say that I had issues with my laptop. For the techies (it kept freezing), the laptop not the charts.
Now the interesting one for me was GBP/JPY. Having not traded this before on my pivot strategy I was slightly nervous. However I needn’t have been as it complied with all the signals ligning up, I set my Entry Order and let the market do what it does best and move. A little over 20 minutes I had 20 points. I got out as it looked as if it would turn. Only for me to be proved wrong and it go balistic and rise by a further 20+ points. Happy though that I have 20 points as my first trade on this pair.
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