Weekend Recap

I thought I'd check in and update the world on my latest Forex exploits.

Clearly my Thursday idea to sell fell through, as the market decided it was done punishing the Cable because of the Fed's decision to raise interest rates. Unfortunately my decision to spread the stop wider resulted in a bigger than usual 40 pip loss. But all was not lost, as I did get a winning 20 pip trade in around 8:30 AM.

The Sterling has continued its tear as it approaches 1.90, its highest level since April of 2005. Its already encountered resistance at this level, and may continue to do so, according to the report by 4Cast. Right now, the Cable is at 1.8960. Here comes another of my genius ideas: buy now, and exit trade at 1.9000.

We'll see how this one turns out...