CLHedgeFund 160Guru Stats update 03–06–2016
Hope you all had a relaxing weekend. I got two marvelous sunny days at the beach and in very good mood after all the profits made last Friday. I have been positioning my account for the long term expectation of a weaker dollar and Friday we recovered 10% from last month draw down and we are only half the way up on EURUSD. Retracements are expected as usual, profit taking and euro shorts jumping in, but the bullish bias has strengthen and we have lower lows and can expect further rises upwards.
As usual the 160GuruStats can be found on the same place. For full HD, save and open with your pdf viewer.
This week’s recovery coincided with the scheduled account increase and the stats show a very steep rise with account equity above 130% since the start. So far everything going in the right direction and results are not measured by a weekly or monthly performance, but rather after several months.
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Tomorrow FED Janet Yellen will have a speech but the market has seen the big picture already and it won’t be Yellen that will push the dollar back up, only bad news from EuroZone or more easing from the ECB. Buying on dips is the best approach for long term traders.
The GBPUSD keeps very volatile driven by polls. Currently the Brexit campaign seems gaining momentum and is pushing the pound to lower levels.
Wish you all a great start in the week