Mainly after US President signed a new bill in law which should boost employment and provide tax incentives to employers if they hire this year. A good step to put Americans back to work.
GBP/USD had a good push above 1.5300 after UK employment picture showed sings of growth but wasn't able to hold due to previously mentioned reason (New Bill).
Eyes on Dollar Strength:
Dollar Index rebounded around a strong support level 79.55/ 51 and is near the top of its consolidation range.
Gold dipped sharply in the last trading day. Resistance around 1130.
If you see the daily chart...I see a head and shoulder formed and this time gold might dip lower to test the 1074 area. We will see how things shape up next week.
See Daily Chart:
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My Trading: A pretty week start for me however, at the end of the week I was able to have some good trades that helped my come back into the positive territory.
Total Trades: 45 (12 negative and 33 Positive)
73 % Win to loss ratio with 122 PIPS.
Equity 3.3 percent from the last weeks close.
LESSONS REVISED:
Candle close and open entry: As my mentor have mentioned several times, " Breaking your rules is like cheating yourself". Very true...Keeping yourself Integrity plays a big role in one's consistent success.
So this week I have violated some of my basic rules of trading.
1: Over trading (Specially after couple of losses)
2: Mid Candle entry.
However, I was able to realize my mistakes and stopped trading (for one day) during the week to reevaluate and found out exactly what has happening and then came back with a fresh mind set and did what I am good at..follow my method/ set of rules and trade.
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