Go With The Flow 19 January 2019

Today’s trade ideas, plans, thoughts, musings and scribblings

We’re over another Brexit hump but with many more to come, here’s what’s possible next for Brexit and GBP.

I managed to royally cock up my USDJPY short yesterday. In the end I hit 108.95 and had a provisional stop at 109.25 but didn’t like the look of the break so moved it to 109.15. The high was 109.20 and then it came back. To be honest I should have stuck to my rule of not trading the second run back to 109 because the first run was the proper trade to get on. After that, I had greater caution on my mind, which led to me being more anxious to reduce my risk, leading to me lowering my stop quicker. Lesson learnt…again.

We’re seeing more in the way of risk moves today with JPY driving the bus. The majors are the passengers. EURUSD doesn’t look like its in a hurry to go anywhere. GBPUSD has found buyers lurking.

I’ll see what levels develop while sticking to the wider, well trodden edges and ranges.

Let us know what you’re up to.

Good luck today.