Missed the entire run down on eu. Not sure if I would have taken any trades in the run down though. Came to the desk and saw the string of greens before, looked for the closest level, and it was 51 being S1. Waited to see how price would behave around the 50 mark, took the second push down and failure. Exited for 5pips, but could have had more.
Friday, August 20, 2010
Missed the entire run down on eu. Not sure if I would have taken any trades in the run down though. Came to the desk and saw the string of greens before, looked for the closest level, and it was 51 being S1. Waited to see how price would behave around the 50 mark, took the second push down and failure. Exited for 5pips, but could have had more.
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brother, you have to recognize the downtrend and the pullbacks up to short. This is the easiest way to make money. Look at your 5min charts again and look how many times it pulled back up to short into the down move. You need to learn this setup and trade it. this is part of the grail IMO.
ReplyDeleteHey James,
ReplyDeleteI totally understand what you are saying. I just wasn't at the screen when the down turn was happening. It happend just after first hr of london, and I usually don't get to the screen till around US open.
Maybe I should get myself one of those huge LCD Tv's and put them up in the family room, so can monitor things like these when they happen. :-)