Third trade was a pure momo continuation play on the Euro using 1 minute chart. Blue line entry, red line initial stop and green circle exit.
3 hour chart:
1 minute chart:
Monday, August 1, 2011
August 1
Ended day in the green but I traded poorly. Long Aussie in the middle of a 5 minute bull flag at resistance......range was BARELY broken on 3 hour chart over last few hours....but not last couple days. Trying to front run this break that already broke but didn't break again was a bad idea. The 3 hour chart tells the story.
Third trade was a pure momo continuation play on the Euro using 1 minute chart. Blue line entry, red line initial stop and green circle exit.
3 hour chart:
1 minute chart:
Third trade was a pure momo continuation play on the Euro using 1 minute chart. Blue line entry, red line initial stop and green circle exit.
3 hour chart:
1 minute chart:
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My main comment is that today was not a day to trade for 10 pips. Everything was moving so strongly, 20 to 25 pips minimum is what I'd be looking for. Otherwise... hey, you swung and missed a couple times but still ended the day richer than you started. That's always good trading in my book.
ReplyDeleteThanks for the advice Richard. My measured move would have given me a nice gain....arghhh. I really need to concentrate on exits.
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