Sunday, March 9, 2014

Week in Review: 3rd March 2014 to 9th March 2014

I ended this week at breakeven. The GBPCHF was quite choppy this week and took out two trades. However, I won on the XAGUSD and EURSGD, plus a few other trades. 

EURSGD - Daily Chart

An extremely large pinbar appeared on the close of Thursday. I used my new system, Ebisu, to trade this. 

Price stopped short of my profit target just before Friday's close. Rather than leave it open over the weekend for a few more pips, I decided to play it safe and take profit.


I didn't spend much time on any system development / backtesting this week. I wanted to spend a bit of time off trading so didn't make much progress. 


No doubt most of you should be aware of the whole Russia / Ukraine / Crimea crisis. How has the markets reacted? Not much, apparently! I don't trade geopolitical events, but if I had to, I would've bought gold, oil or any of the commodity pairs, expecting price to shoot up.

Here's the weekly chart for gold (XAUUSD).

Gold only finished $8 higher (from $1,332 to $1,340, or 0.6% higher). In fact, there seems to be quite a bit of selling pressure. Silver actually FELL this week. 

Bizarre. The market can do anything. I guess until we see Russian / Ukrainian blood being spilled, speculators consider the event inconsequential. Anyone who accumulated longs to profit from the crisis may be getting squeezed next week. 

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