GBP crosses/Trade Ideas/USD/JPY

Liquidity to stay poor for next two days

We can expect more choppy illiquid trade for the next two days although the market is returning to almost full-strength today (Japan still closed).

My New Year’s resolutions are firstly, to try not slumping in my chair all the time, and secondly to try and exhibit some patience and wait for my levels to be reached; both of which are much harder than they sound 🙁

The trades I favour today are buying dips in cable (anything near 1.6200) and/or trying to pick a top in USD/JPY if 87.60 is tested and holds again but I’ll go into these in more details in next few hours.

  1. Haha, you are so very right about waiting for the levels you have figured to be the best entrances being very, very hard! That is one of my resolutions as well, so maybe we can jump each other’s ***es if we begin to stray, lol. I always pick a level, and the vast majority of the time it ends up being a very good entry point, but while waiting for it to come I start thinking something along the lines of “This support/resistance will hold so I better get in now!” along with many other similar dopey reasonings, ha. Good luck with both of your resolutions and maybe we can keep each other in check!

  2. Yes NFP tomorrow but I’m not sure if that will improve liquidity, I certainly won’t be adding any! I’d say it will be choppy until early next week and then pretty much back to normal

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