S Day Reversal

The last couple times the market did a S pattern on its side, I've had very rough days. The first was on Nov. 30, the second was Dec. 18. This time, I recovered and managed a decent gain thanks to some bigger trades.

As it happened on those other days, the dollar lost ground during the Asian session. During the European session, the dollar gained back some ground, but bounced around a bit. Once the New York session began, the dollar gained significantly.

These reversals are really hard to anticipate, especially when no economic announcements are driving them. I did 26 new trades today, with 20 winners and 7 losses including the one from yesterday. The net pips for today is actually negative at -123 pips, but due to the larger trades I made later in the day, I posted a 0.57% gain for the day.

Here are the daily stats for Tuesday, December 29, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.5999	1.6065	1.5865	1.5901	200
EUR/USD	1.4377	1.4456	1.4330	1.4352	126
USD/CHF	1.0346	1.0384	1.0278	1.0366	106
USD/JPY	91.61	92.06	91.51	91.99	55
GBP/JPY	146.58	147.10	145.96	146.28	114

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com