Wednesday, September 29, 2010

Armed and Ready


Sat down today, and saw the range that EU had been in for the last few hrs. Higher lows on all the hrly candles, but topping out. Seemed like a break was iminent.

First trade was basically overbought at hrly resistance line. When the retrace did not really go very far, and held around the 25 level, I entered a buy after that nice dip down and back up, with an expectation of break out of range. Even though my logical target should have been the highs for the day, I exited at the first sign of a stall.

Third trade came quicker than I thought. I was expecting it to do a runner past today's high, but when it stalled and failed on 3 attempts, I entered short and exited with my set 5pips. Though at the time of writing this, it is 45pips off entry :-(

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