Psychology lesson.

US CPI was reported in line with expectations (a little higher than the ideal disinflationary environment would like) , whilst not a huge concern, it does mean US Interest rates will likely remain a little higher than expected for a little while longer. Which essentially means we should keep the USD as our primary long currency.

Personally, twice this week I've been on the precipice of placing a USD CHF long trade. (Although the opposing currency is irrelevant as the USD has been longable against everything. I just like the CHF as a short due to the overly dovish SNB). But due to circumstances out of my control I haven't been at the charts at the right time to place a trade.

The psychology lesson here is that it doesn't matter. I'm very relaxed about the fact I've arguably missed two trades this week. The important thing is that I identified the opportunities in the first place.

Currently, my only question is whether to long the USD with a stop loss behind a 1hr swing or lower. And that's a question I'll wait until Thursday to answer.

If you're unsure why long USD is (in my opinion) the only trade in town, please email: johnelfedforexblog@gmail.com

There are no daft questions.

Side note... I've not received any 'testimonial' emails yet. And whilst I respect anyone's preference to remain anonymous, I'd rather a negative review than no review all. Plus you can email me to take advantage of the 50% off for 6 months offer.