January 10th, 2010 | 
Author: 
"I find it rewarding and stress free. Entry, stop loss and closing the trade are all there and can be set up in 5 to 10 minutes"
Weekly Report 10 January 10
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Al’s Trade Report for the week
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Commodities and currencies traded against the US dollar have mostly been in rally mode, Oil, Gold, Silver especially since the final week of 2009.
I consider this to be a reaction rally to test the highs which is virtually where we are at in the Australian Dollar, US Crude oil and the Australian Dollar traded against the Japanese Yen hitting new highs this week.
Unless there is significant weakening in the US Dollar at this point I think some of these gains will fade and is one of the reasons I have stayed out of the market not trying to chase this rally.
Keeping perspective when the market continues to make gains when you are not aboard is a major challenge to be overcome in trading. The upside is that the market usually retraces a portion of any move and can be an optimal time to enter a low risk trade which I always try and keep in mind.
I expect a very good first quarter for trading, it has been a quiet start to the year in terms of trades but signals in several markets are likely to arrive at the same time soon and its just a case of being ready when they come in to act on them.
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Posted in o. Weekly Roundup