Way too busy yesterday to post anything. I was pouring over this new stimulus plan and tried to find a spot for me to get in line for some of that money. Why not? Since this whole mess started, government has been giving money away to banks, insurance companies and God only knows who else. In short, to people who have already proven beyond a shadow of doubt that they are incapable of running business. I’m just as skilled as they are, I mean, given some time any company run by me can also find itself in bankruptcy. Easy. Unfortunately, since my enterprise is still above water, I don’t qualify. Tough luck once again.
Just like in trading. My recent trades didn’t work out very well. As a matter of fact, they didn’t work at all. Last few orders I mentioned in this blog were in Canadian Dollar pairs. Sadly, Loonie didn’t cooperate. The worst one was in CAD-CHF.

I was using 4H chart for entry at 0.9575. Few hours later sharp sell off started and position was closed for 150 pips loss. Original chart, 4H, is a little distorted, so I leave it alone for now. Hourly chart looks a little better now and I’m considering entry at just above previous high. Another order placed was in EUR-CAD. This one, thankfully, never was filled. Price didn’t fall enough. To round up my Loonie trades, CAD-JPY position lost 49 pips.
Japanese Yen has been getting stronger for last two days . Currently congestion area is being formed. While it is not known at this time if the dontrend will continue or reverse, I will start looking for buying opportunities. Entry would be above most recent high. Here is an example.

Don’t know if GBP-JPY will be my first choice. It was chosen only to demonstrate the principle. Hope next few days are going to be better than the start of this week.

Mike K.