We did not trade for the rest of the week as the markets traded sideways in anticipation of the upcoming speech of Fed Chair Yellen. Yesterday we sent our subscribers the following email:
From: Dave Hughe <plainfx@gmail.com>
Date: Thu, Aug 24, 2017 at 9:26 AM
Subject: There will be no signals and no trading tomorrow
To:
Fed Chair Yellen Speaks at 12pm tomorrow. Usually on such days there is no direction in the market in the morning and fairly unpredictable volatility during the speech. Therefore we refrain from trading on these days.
The upcoming speech is probably the reason for the lack of direction in the market today and yesterday.