I'm Ba-ack!

I apologize for being incommunicado of late. Late last week I was out of town, and by the beginning of this week, I was suffering in the throes of some maniacal flu/cold-like illness. I'm just now recovering and regaining enough strength to resume my job, which is informing you of the magic, the misery, and the mystery of Forex.

My last trade on 4/18 didn't go as planned. My buy order got triggered, but price fell, hit my stop 20 pips later, then reversed field like soon-to-be-NFL #1 Draft pick Reggie Bush on his way to paydirt.



It appears that in my absence the Cable has been flirting with, but falling back under the 100% fib retracement of January's high. I don't know what fundamentals were in play from late last week to now, and to be honest I really don't feel like researching to find out.

What's jumping off tomorrow? Looks like US Initial Claims and US Help Wanted Index. Also important is Fed-Head "Big" Ben Bernanke testifying at 10 am. I'm still hoping to take advantage of the Sterling's reluctance to break completely through the 1.7920 - 1.7940 range. I'm putting a sell order in at 1.7914, T/P at 1.7884, at a stop-the-bleeding at 1.7944.

Until next time...