Profit: $6.81 Total: $1,001.92
Most traders don’t trade the London open on Sunday to Monday morning. It can be a good thing because when liquidity is low, the markets can move more dynamically. Today’s opening was interesting to see because dollar had a surge in power after having it’s way with the bears last week. I think today’s open shows that last week’s sell off was exaggerated and it might be time for the bulls to take over again. Although a rate hike is not promised, it’s still a good chance for it to happen within this year.
Although I missed out on a good London, I caught a few good trades in NY. GBP/USD was at a nice support so I was able to trade the reversal and long it at the bottom. I’m expecting to see a continuation in power in the dollar this week. There’s a couple bank holiday’s as well which may slow down the markets.