UK's PPI was more than expected, but I closed my position, long on GBPUSD, at 1.9731, one minute before the release, taking 41 pip profit.
Although the pair hit the resistance at 1.9775 just after the report, but I don’t wanted to bet on the news itself.
In fact, I still believe that any position which is opened based on the expected effect from a data should be closed before the release of that data. I see it as the difference between trading and gambling, because the actual data and the possible reactions simply could be completely different.
Although the pair hit the resistance at 1.9775 just after the report, but I don’t wanted to bet on the news itself.
In fact, I still believe that any position which is opened based on the expected effect from a data should be closed before the release of that data. I see it as the difference between trading and gambling, because the actual data and the possible reactions simply could be completely different.
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