Profit: -$22.00 Total: $1,262.01
The pound’s rally from yesterday proved to be a fake out when the GBP/USD dropped sharply during London session. Oil was another main attraction when it reached a new monthly low of 43.72. Sure enough, it sent the USD/CAD flying despite the Canadian CPI as expected and retail sales above estimates.
Today’s NY session was very weird compared to London’s. I should really be trading more London because things start to slow down drastically during NY. I woke up early to find that pound was dropping hard and tried to make up for lost moves by aggressively adding positions. Unfortunately, all the major movements happened during London, and during NY, things started to retrace and then consolidated. However, the two big moves I could’ve caught during NY was short EUR/USD and long USD/CAD. I was too focused on shorting the GBP/USD and GBP/JPY which made me miss out on both wonderful trades… I have to stay alert.