Profit: $10.36 Total: $522.48
The chaos in the market today was nothing like I’ve seen in a while, especially after little to no news. If you take a look at my previous posts, I said how the pressure of the Fed hike in March, or the lack there of, will bring the dollar down. Without a stellar economy and inflation so low, there’s only one way for the high dollar and that direction is down. The two year low ISM number triggered a dollar sell off, and I think this is only just the beginning.
I was waiting for this day to come down all week but unfortunately the sell off started in London, which I over slept. I was scared to hop on the dollar train as it was sinking, afraid to sell at bottom. Oil had a wild day as well after a high inventory number. Usually, through the law of supply and demand, a high inventory number would bring oil down but I guess a falling dollar gave a push on oil. Lost some pips on longing USD/CAD but it was my fault longing dollar on a sell off.
Beautiful GBP/USD break out. Wish I caught it during London.