Good morning Team Rainbow; it's Friday!! The weekend beckons but we have the grand-daddy of news releases today, the US non-farm payroll out at 1:30pm to navigate first.



In answer to a couple of questions. yes, I do close trades early, but not all the time. It is important then in a trade to consider the time it has been going and whether the price action still fits the original signal. That was why I closed trades yesterday. Coupled with the fact that it was the eve of the NFP today meant that volumes were drying up and probably we will see tight range-bound action till lunchtime.


I am not a gambler and do not see the sense in blindly following a system with such important news due. If we were at losses on all three, at 1:25pm today, you really would be holding on and holding your breath as all trades involved the US dollar. You'll note that yesterday I didn't take and trades involving the GBP and EUR as their respective interest statements were due out at lunchtime. There will be better opportunities at less hectic times.