Caution at end of month and end of quarter trading.

Jul 31, 2012

Be careful trading at the end of the month or end of a quarter.

The GBP had a nice move down overnight before reversing sharply to the upside.  After hitting Target 1 there was a long lower wick, followed by a bullish candle with another longish lower wick.  This looked like  an imminent reversal. The third candle confirmed the reversal with a very long lower wick and very strong bullish close.  This was enough for me to close the remainder of the position.

Good luck with your trades!

Questions are always welcomed.

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