Analysis 2nd Feb

The USD is showing signs of turning around and resuming its previous bullish trend. We need to see a higher low and higher high before we will be comfortable taking long positions. This current bullish wave, whilst lacking in confirmation may still produce opportunities. Its in the realm of chance one of these positions runs into the trend continuation.

A certain vigilance is necessary when trading amongst uncertainty (lacking context or confirmation). These positions must be monitored actively and closed off should its behaviour fall outside the bounds of 'typical'. I leave the estimation of what is 'typical' to you. Its not something I can decide for you. It is something you personally obtain a feel for through observation. The best way of acquiring a 'feel' is to execute many identical trades and watch how they all unfold. Across that experience you will come to know what typical paths a position takes from some standard entry.

Good Trading.