I have not been very active in last few days. Trades presented on these pages represent core of my activities this week. Perhaps I should have been more adventurous, as just about all of these trades worked out good. On the second thought, no, better to just stick to my plan, taking it easy now. Currencies have been moving more than I thought they would, but without any real dramatics. Canadian Dollar has been getting stronger, supposedly because of China and Russia buying it in effort to diversify their FX holdings. Don’t know how that’s any news, though. Russian authorities have been talking about it for some time now, and China has been “officially” broadening scope of their investments for, what, a year now?

One more currency enjoyed solid day and this brought Christmas bonus me, if we can call it that. Swiss Franc advanced against most currencies, CAD being notable exception. I had position in CHF-JPY, originally published in “Christmas week” post. Today this trade was closed with good gains, bigger than last couple of days would suggest.

Plan was to enter this trade at 87.12. Unfortunately, when markets opened after the weekend, it happened right around intended entry. Combined with small gap and wider spread, it was not a time to get into it. No way of telling if this is a move or a spike, so it is better to stay away. Of course, there is a risk of missing the trade altogether. Also, following entry was at worse price, just above the new high, or 87.17 in my case. Price advance accelerated today, breaking above 88.00. I settled for a 88.17 about an hour ago - 100 pips Christmas bonus.

Not much point in trying to trade for the rest of the week. Some brokers will be closed, others will offer limited services with wider spreads. Very little incentive to be doing anything. Time to enjoy holidays, take a break, spend time with family and friends. Markets will be here next week and next year, they are not going anywhere, and will probably provide more trading opportunities. I’d like to wish everybody great and memorable holidays. Merry Christmas!

Mike K.