Profit: $0.72 Total: $928.24
Fed chair Yellen testified today before the Join Economic Committee in Washington D.C. Her statement was hawkish stating that economy is making good progress, employment is improving, and that raising rate hikes too late may even cause a problem. December rate hike percentages are up to 96%, which is most likely probable. It’s shown in the raising dollar, but so many events in 2016 happened where the least probable outcome came forth in the end, the U.S election and Brexit to name a few, so who knows.
I let my excitement and emotions get the best of me and longed the USD/JPY and shorted the AUD/USD as soon as I woke up in pre NY. The markets were obviously moving in a funky manner ahead of Yellen’s speech. The dollar pulled back a lot more than I expected and took both of my trades out for a medium size loss. Thankfully I was able to make it back and finish the session just above break even. It would’ve been a great day if I hadn’t jumped the gun too soon.