DOW industrials confirmed trannies recent high. Bullish.
Banks flying. (Read into that what you will. No massive rally despite good news. Information already discounted...)
Trend up.
No (medium term) reversal candlestick patterns in sight.
But. Clearly massively overbought market, and an economy that does not reflect this 'recovery'.
So, here's what I'm doing. Holding onto the medium-term DOW longs I bought on the back of the new high. But ready to close them at the first serious sign of a trend reversal, and wont be adding to them any time soon.
No day trading today. This week I've been buying into the close for my little daily 'punt', but it's the end of a big week, and it's a Friday afternoon. A dangerous time to start buying into the close.
I'm not in the gambling mood. If I've no idea where the markets will move, as I don't this afternoon, I'm not gonna be doing any short term trades. Good luck to all those who do though!
well got stopped out on that for 25 pips £/$ long.
Closed NZD/USD short @ 7088 for 50 pips profit.
Closed AUD/USD short @9168 for 67 pips profit. Still have one opend at 9153 waiting for breakeven on this one.
Closed AUD/NZD long @ 12930 for 44 pips
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