Day 548: Dollar deep pullback


The NFP data showed that the U.S lost 33,000 jobs this month but many are speculating that it’s due to seasonal job changes along with the major hurricane interruptions. The dollar initially took this news well and even had a small jump off of it. Eventually when things settled out, the dollar spent the remaining of NY to pull back. This pull back is not only healthy but natural. The dollar has been rallying for weeks and it’s about time it took a pause. I had some early dollar long trades mid NY session which I will hold. I believe the dollar pullback will attract more buyers at better price and go for another leg up.


Day 547: Will the Hurricanes effect the NFP?

Profit: $8.10 Total: $331.66

It was another win today by the Dollar bulls. The rally is still alive even before the NFP. One topic of tomorrow’s number is that if the recent devastating hurricanes will have a major effect on the payroll data or not. There were multiple hurricanes in the end of September which created chaos within the labor market. It would be interesting to see how big of an impact the hurricanes had. I still think it looks bright for the dollar bulls as long as the NFP data comes out horrible.

Day 546: Yellen tease

Profit: $6.21 Total: $323.56

There were some majors news events scheduled for the afternoon for Draghi and Yellen to speak. A lot of traders were expecting some crazy movements but ultimately the two spokesmen said nothing to change any price action. I was afraid the dollar bulls were going to lose their battle but the bulls still look very juicy. I want to take some dollar long trades overnight but the momentum is still not there. I feel like the markets are gearing up for another dollar push, I may or may not decide to enter in some dollar long trades overnight regardless of the low momentum.

Day 544: Sleeper Mondays

Profit: -$1.52 Total: $317.77

I opened up the charts a bit NY opening and looked pretty clear to me that the dollar was still bullish. Throughout the day I took trades to scalp long dollar but things were just not moving in the right direction. Not sure if it was because it’s the beginning of the month but things were really slow for today. I had some rough scalping losses which made me hold onto some of my long dollar trades. I ended up taking profits during Asia where I was able to recoup most of my losses. Remember, if the market’s not moving, sometimes it’s better to just hold.

Day 540: Dollar whiplash

Profit: -$4.11 Total: $307.25

There was a whiplash action by the dollar after Yellen spoke about the U.S economy. She was worried about inflation, as usual, but also said the low inflation is only temporary. Yellen also reiterated about “gradual adjustments” but also said that the outlook looks uncertain. The dollar had a whiplash movement  but ultimately ended on a good note. Dollar bulls still looks pretty good from here.

Day 538: Dollar’s hanging in there

Profit: -$1.78 Total: $311.36

The dollar’s hanging in there but there wasn’t enough momentum to create any significant moves. I had a small loss today but could’ve easily ended positive if I held onto my last EUR/USD shorts and USD/CAD longs in the afternoon. I hate holding onto trades on Friday afternoons because they literally take ages to actually move. Liquidity is so painfully long. All in all, I’m getting my rhythm back in the markets and this was an all around positive week.

Day 536: Bored expensive scalping

Profile: -$5.97 Total: $309.57

Today was an absolute boring NY opening and I was stupid enough to force trades. I know I shouldn’t have been trading when things aren’t moving, but I had an itch for trades. Due to my boredom pre-FOMC trading, it costed me some pips, but luckily I was able to gain some of my losses back after the FOMC chaos. The dollar looks nice and healthy, looks like there will be potential long dollar trades tomorrow.

Day 535: Light trading day

Profit: $10.20 Total: $315.54

It was a light trading day today. Had some scalps on the EUR/USD which didn’t move much, but caught a delicious USD/MXN long rally toward the end of the NY session. USD/MXN isn’t a pair I traded in the past, but lately I’ve been loving it. Tomorrow’s FOMC so it should be interesting.

Day 532: First time trading USDMXN

Profit: -$3.46 Total: $299.47

The dollar had a monetary pause followed by a pullback from it’s massive rally that started this week. The CPI data came out higher than expected but it looks like the market wants to wait for the payroll data tomorrow before committing to dollar longs. Today price action just looks like a healthy pullback, dollar still looks long.

It was also my first time trading USDMXN. I never really traded the pair because of the high margin and funky pip count, but I’m glad I got exposed to it today. My outlook on any pair is that, a chart is a chart. Anything is tradeable the same way, regardless of the subject.