Close Open Orders: 2007-02-16 08:25
We have housing and inflation data coming out soon, and these our potentially volatile reports. The market has moved about 50 pips away from our orders, so we will cancel open orders to avoid event risk.
Trade Idea: 2007-02-15 23:43
We saw a sell off in Cable after the weaker than expected retail sales numbers early yesterday. Against the dollar, we saw a strong move from 1.9680 all the way down to 1.9500. According to stochastics, this run may be out of steam, so we will see if we can get a quick profit from a possible retracement off the strong move.
Here’s a trade idea:
We do have event risk in the morning with the monthly US Producer Price Index numbers, Housing Starts, and Consumer Sentiment. Depend on price action during the Euro session, we will make trade adjustments accordingly. Good luck and good trading!