ForexSpirit

Today was a day for cutting losses.  There is increasing chatter from the talking heads that the Fed has talked itself into raising integer rates again at the end of the month.  This lends strength to the dollar.

Dirk shifted to this viewpoint as well today.  There is now a good chance that we’ll have a half grid shift to the south.

I therefore decided to reduce my leverage (i.e. take a few losses) so that I can buy again when prices look to form a new base, potentially around 1.24.

Today’s price author was lots of congestion followed by asmall move down in the last few hours.

I have kept my birthday entry from late last week open, but closed the previous three trades today where the red sell triangle is on the chart above.