Come Monday, we are all scurrying up to set-up charts for the week's bias. Given that the weekend was a negative close for major currencies, the Asian markets and Bourses are a bit neutral and relying on the European news for direction. Generally I am reluctant to trade on Asian Monday, markets are directionless unless there is a pertinent news making the currencies move. As Nicholas Taleb, puts in his book "fooled by randomness", there is news and there is noise, we need to have the ability to separate the news from noise, generally I tend to keep away from reading or listening too much. Ignorance is bliss.In the world of randomness, I decide to toss a coin and start taking positions to see if technicals do better or would coin toss beat the best analysis.These are my two cents worth and my positions as a result of the coin toss experiment! - More on the experiment at shankariyerh.blogspot.in.EUR/USD - 1.2888 - EUR/USD has lost the 1.29 handle into early trading, this is just a case of thin volume trading. Given this, we will try and sell rallies back up to Thursday's high of 1.2978 and aim for our first objective of 1.2626. Technical Bias is still NegativeCoin Toss says: LongGBP/…
Read article
Translate to English Show original