Go With The Flow 23 January 2019

Another day where patience will be key

Every day in trading we have a duty to practice our discipline. In the case of the current day to day market volatility, practicing patients is the order of the day.

I had a decent day jobbing cable yesterday but all the while I still didn’t feel too comfortable knowing that there was still a high headline risk. My Kiwi bid at 0.6705 came up short by a pip and a half, which is disappointing after seeing the move higher today. However, we’ve an area of interest up here around 0.6800 that I’ll keep an eye on with a view for a short.

Most of my trading interest today still surrounds the big figures. 110 in USDJPY, 0.6800 NZDUSD, 1.3000 GBPUSD, 1.1400/10 EURUSD. The only pair that has a level not at a round number is EURGBP into 0.8720.

So, in these conditions it’s a case of picking your levels and waiting for the trades to come to you. Exercising patience and not letting your self go chasing trades out of boredom or frustration.

I wish you the best of luck today.