*Actually none of those trades was taken off clear and nice setup.
9:17 UJ buy @92.75
9:37 EJ buy @133.29
9:37 EU buy @1.4382
10:30 1/2EU sell @1.4371
today started with spike on JPY crosses. Market was quite messy, however on divergence between JPY pairs and USD pairs I decided to long UJ. Big mistake was to take first dip after spike, usually second is deeper, and that's what happened this time. I should prevent myself from trading at all so early after spike, but I didn't and loss on UJ was a price of it.
What was surprising, EU after plunge started to regain it's position very quickly, therefore I decided to enter this move [what I did announced on FF thread earlier]. In spite of lack of proper setup I opened EJ position as well as UJ was looking for me as it was going to appreciate, so I could make sure I won't miss the move.
As you can see on a chart at the moment of taking that second trade GU was forming higher bottom, so when I saw deep plunge on GU I decided to close EU position. I kept EJ trade open and managed to close half at +20 pips profit, accordingly to trading method, however on second half I managed to save just 6 pips.
Last trade - short EU I opened when waiting for reversal setup to unwind what didn't happened. I closed trade with + 6 and +2 pips
London | New York | Tokyo | Helsinki |
Thursday, 7 January 2010
2010-01-07 Morning session preparation
Came a bit late, so here's short version:
EU: further shorts possible [but not trade if price trade higher or retracement [30M]
EJ: possible rise after correction.
GU: short below 1.5936
GJ: rise especially above 148.20
EU: further shorts possible [but not trade if price trade higher or retracement [30M]
EJ: possible rise after correction.
GU: short below 1.5936
GJ: rise especially above 148.20
Subscribe to:
Posts (Atom)