Hello everyone!

Today Friday the 27th of July I personally won’t be trading. It’s the last working day before the summer break for many institutional players and I would not be surprised to see some profit-takings across the board, specially in pairs that have been heavily trending throughout the last few months such as GBP, JPY and NZD crosses.

Yesterday we already saw an enormous position-closing (400+ pip drop on GBPJPY for example) and like I say I would not be surprised to see further nasty moves today. Summer break is approaching and many big dogs are closing the shop down until September which will undoubtedly spike some few charts.

Moreover, today concludes the trading session for me as well. Next Monday begins my well-deserved 2-week holidays and I am very much looking forward it. I haven’t had one single day of vacation in months, so I can’t wait to put on my swimmers and my sun glasses and head off somewhere warm and sunny :)

Be careful if trading from now on throughout August guys: trends are less sustainable (solid trends are mostly fed by institutional players), levels of support/resistance will become weaker (as there is no-one in the market to defend them), prone to range-bound charts and overall not the kind of market conditions a conservative trend-following trader such as myself is keen to get involved with. In fact, one of my Golden Rules of Sensible Trading is to not trade at all in August. So if you do decide to trade after all, please be very cautious!

Time to toss some figures around:

• This week’s results have been: AUDNZD +30 pips, AUDNZD -11 pips, CHFJPY +24 & +36 and GBPUSD +26. So all in all this week I’ve made +75 pips.
• This month’s results have been +636 pips, but most of that comes from those two long-term trades I took at the beginning of the month on GBPUSD for +275 pips and EURJPY for +221 pips. Man those were two beautiful trades! I always tell my students that it’s not necessary to trade every day in order to make money. Just a handful of good trades will make your month, so please guys work on your patience and discipline and wait for the A-setup to show up before pulling the trigger. It’s just more profitable in the long run!

I will see you in few weeks times folks!

PS: don’t hesitate to continue sending me mails if you’ve got any question, but please bear in mind that I might take few days to answer them.

Cheers and happy holidays to everyone,


-HECTOR-