11.30.2021
The last thing we want to do in markets (any market) is let a “view” or a “bias” get in the way of sound decision making.
Our ALGO (SYSTEMATIC TRADING SYSTEM) is selling EUR on pops, it has been stopped once already and it entered another SHORT based on MOMENTUM. My years in the business show me that the persistent BID is stronger than what algo’s can read. I chose (discretion) to get out of the way and live to fight another day. The USD is not reacting according to what the plan was, HAWKISH PIVOT from the FED should have strengthened the USD. It may do just that, and this may be a squeeze, but we chose to wait and not get in the way of a stronger move.
The team and I will look at charts and evaluate the current regime and trading conditions and trade based on PRICE ACTION and CHART LEVELS alone.
The Biscuit.