Good Morning,

Welcome again, and a special welcome to 4 new subscribers from the past couple of days.

This post today will be a little longer than normal as at the end of the morning update I want to review all the trades that closed yesterday, plus the new trades added to the existing live trades and also my thoughts as we enter a thinning market before Easter weekend.

Wow...yesterday's equity markets volatility was unreal. These moves in the S&amp;P up 25-30 points then down 20 points then back up 35 points is not normal. Swings from highs to lows and back is severe price action and many traders would have lost thousands of dollars. I believe that we are in a process of finding  and delivering a MARKET TOP and this is why we have this severe, extreme volatility. If you are able to keep your head above water you are doing well.

Overnight we had good? China data..this is NOT reflected in the NZD/USD for example. I am actively looking today to short the NZD/USD and also the AUD/USD. In fact if we can get the AUD/USD as close to or above 0.9400 I would see this a great short opportunity. I will tweet if I enter or place trades.

The GBP/USD topped at recent highs on the back of great Unemployment data. If this pair cannot break 1.6825 today, I think this pair could offer a great short. But you need to be careful it is the cable.

I was stopped out of the USD/JPY yesterday as it bounced. It has only reached the 38% retracement of the recent 104.00 drop. It is struggling this offers a great area to try a short after the U.S. data dump this morning...maybe?

BOC Interest rate decision and Press Conference later today and Janet Yellen speaks live.  Be careful if you decide to enter USD related trades she may take this opportunity to have the USD beaten down.

It will no surprise to those of you with me for a while that as we enter a thinning market with traders taking additional vacation time, it will be my intention to reduce risk a little. All of the open positions are small trades and from a financial perspective do not concern me too much, but I will be reviewing stop losses to allow for swings over the holidays should I decide to leave a trade active. From this afternoon onwards I will start the revisions and I will tweet my actions.

<span style="text-decoration: underline;"><strong>RADAR TRADES THAT TRIGGERED OVERNIGHT:
</strong></span>

EUR/SEK - RT56 - limit order entry at 9.0792 (long)
NZD/CAD - RT55 - limit order entry at 0.9477 (long)

<span style="text-decoration: underline;"><strong>EXISTING LIVE TRADES: (PLUS THE TWO LISTED ABOVE):</strong></span>

EUR/USD - FLASH TRADE FT77  - short
USD/CAD - FLASH TRADE FT69 - long
USD/CHF - FLASH TRADE FT73 - long
USD/SEK - FLASH TRADE FT92 - long
SEK/JPY - FLASH TRADE FT93 - short
GBP/NZD - FUNDAMENTAL TRADE FUN14 - long

<span style="text-decoration: underline;"><strong>CLOSED TRADES FROM YESTERDAY:</strong></span>

NZD/USD - a FLASH TRADE (FT94) just after the NZD CPi news release. (+22 pips)
USD/JPY -  a FLASH TRADE (FT84) from the 10th April. I was stopped out of this one yesterday on the nasty U.S. afternoon session bounce. (-50 pips)
NZD/USD - a FLASH TRADE from yesterday that we took 3 bites of profits from as it fell. I moved the stop to get ahead of break even for bite number 3 and on the afternoon session bounce I was stopped out (+2 pips)

Good luck with your trading and do not get suckered into trades....you may end up with them over the holidays and that may NOT have been your original intention!!

Scott