I took another stab at avoiding low probability trades today by keeping busy during the day (w/ non-trading related activites), especially after volatility fell in the afternoon. Although I managed to only make a few trades today, once again, I ended up giving up my profits from the early morning once volatility tightened and trends became less clear. Tomorrow will be a much busier session, given all the pending data releases. Very interesting will be to see how the EUR/USD performs considering its MACD on the daily continues to exhibit a bottoming pattern. Other pairs that benefit from increased risk appetite (e.g. AUD/JPY and EUR/JPY) have already pulled back from their multi-day rally, and any further downside in the next day or 2 would suggest that the EUR/USD bypass any short covering rally and resume its downtrend.
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