What did G-8 meeting accomplish?. | fxmadness.com
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July 10th, 2008 at 5:57 pm

What did G-8 meeting accomplish?.

Anybody followed the G-8 meeting in Japan? If you didn’t, good for you! You avoided a waste of time. After all the huffing and puffing before, nothing, but nothing of interest came out. Bush is going to attend Olympics opening ceremony? Who cares! We want to know about dollar policy. Everybody expresses deep, deep concern about oil and dollar but no action or a policy of any kind. Few pictures for the press, hand shakes and see you next year! What a joke!
Obviously I’m not the only one who thinks so. Oil shut up in prices and dollar took another round of beating. I’m sure everybody is very, very concerned again.
O.K., trade from yesterday, GBP-NZD is cancelled, price has not reached entry and my interest in this cross is gone for now. Meanwhile I’m placing this order here.

forex chart

I see a promising reversal pattern in CAD-CHF. My entry is going to be at 1.0150. Time frame used here is much smaller, I’m looking for a less sizable gain, only 50 pips. 
I place a lot more orders daily, but I don’t see much point documenting them unless they are posted before. It is not practical for me to update these pages more often than once a day, therefore number of trades presented here will be limited and certainly is not representative of all the trading I do.
Mike K.

 

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