Trading Signals for Friday, February 1, 2013

It is the start of a new month, and the end of the last week of the first month of the year. It is a crucial day, since the release of the most important data of the month is awaited. It is the Non-farm employment data that will be released today at 1900 hours IST.

Reviewing up the week's trade, I opened 5 trades as of now, out of which 3 have closed with a stop loss.
The outcome of the remaining 2 is awaited, the result of the same will be highly dependent on the data that will release in few hours from now.

Talking about the sentiments, I feel it is high time now that the ongoing bull run has to smash and give way to a bear trend.

I have placed entry order, and I strictly believe in the policy of keeping few trades, and I define few as 10 trades a month. So, from today, the count starts, which is as follows:

1. Sell at 1.3708 for 300 pips, with a stop loss of 100

In the current volatile scenario, trading in commodities is avoided, since they carry a big margin.

Happy Trading 
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