On a Sunday afternoon, I like to get a feel for the early market action. My approach to often starts by pulling up the 180-minute chart for the yen, and this week I saw exactly what I expected: the price was moving sideways in a tight range. This is pretty standard for the start of the week as the wakes up with the Sydney and Tokyo sessions.
I’m having a pretty light day, mostly rereading the manuscript for a book that will be in your hands by summer. It’s a surreal feeling, turning these typed words into a hardcover book. With my deadline just five days away, I’m trying to cram in a few last-minute charts and edits.
It’s not even 4:30 A.M., and I’m pretty sure there isn’t enough Earl Grey tea in all of Florida to get me going. But I promised myself I’d be up early, so here I am. As I scan the charts, I can see the USD/CHF is still on my radar, and the Canadian dollar is continuing its slide. My first thought, and my first warning to myself, is simple: don’t revenge trade.
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