If it wasn’t for a EURJPY giving me a nice entry to the short day today, I would have been very unhappy with the outcome of the day, profit wise. As it is I have come away with a small gain (essentially breakeven), today really should have been a harvest. Both EURUSD and EURJPY started to show great promise to the downside at around 10am so i got ready for setting up the short positions. EURUSD looked like a clean break thru some small consolidation underneath the 1m 200ema. But I had not paid enough attention to the daily Pivot Line also sitting there.
I went short and PING up went the price taking away my too tight stop-loss. A copy of the trade is below – key learning trade this one. painful too as after the stop-loss EURUSD dropped 60pips. So what really should have been a 2-3% trade was a 1% loser !
Then I took a look at EURJPY and managed to catch most of the slide on this pair to just above the daily S1 point for 32 pips. I messed around a little on GBPUSD, but the move Long I missed at 07:00 – that was my perfect setup and I missed it. Could have gone back to bed at 07:30 !