• Mike


Target trading strategies are typically some of the most reliable and consistent strategies available but they are dependent upon the market moving in waves...specifically the retracement portion of the wave. Due to the unusually strong US Dollar and the lack of any measurable retracements over the past few months, we've had a few trades (EUR/USD, GBP/USD, NZD/USD) that have been holding us hostage in both the Weekly and Daily Target strategies. This type of movement usually only occurs once or twice a year but it can severely impact our ability to take additional trades due to margin requirements. As mentioned in the last MARKET CONDITIONS post, the US Dollar is showing signs of a possible retracement. If that does occur, our primary objective will be to exit the trades at an acceptable level...more than likely we will not be holding these trades towards their original targets.