The UK Industrial and manufacturing sector numbers came out worse that expected, after which Cable dropped as the manufacturing sector may have a negative impact on fourth quarter GDP. Our trade was triggered and we had hoped to play a range strategy. Unfortunately, the market dipped low enough to trigger our stop loss right before the pair shot back up, which eventually shot back up to hit pt1. Dooooohhhhh!!!! (It seems like I’ve been the king of picking out reversal points with my stops lately, hasn’t it?)
So, it’s another frustrating trade today, but no worries because we have two potential trade opportunites with central bank rate decisions and US jobs data at the end of this week. Let’s shake off today’s small loss and get ready for our next trade!
Lot 1: -40 pips