«

»

Aug 02

Print this Post

EURCHF for Breakfast

So 120mile ride done, thanks to all those that donated so generously. You will be receiving a picture montage soon enough as proof of the journey. Suffice to say it is still a little tender sitting down this morning !

So after 2 days not trading, and seemed to miss some great action, I was back in today. After a 4 days away from the charts, it really does take a little while to get into the zone doesn’t it ? I stare at the charts thinking “yeah, so what ?!” Come on brain – engage engage !!! Maybe Red Bull for Breakfast would help ? My dog is at a kennels so i missed out on my morning walk – maybe the lack of fresh air and odd routine didn’t help the focus ? Can anyone enlighten what they do to get back into the groove quickly after time away ?

So, I clicked thru the charts and saw many pairs, on an intraday basis, already or still in their moves “with the major trends” compared to the higher time frames, so no momentum changes of direction on these – GBPUSD being a prime example right now.

EURCHF and EURJPY looked like possible targets this morning as both were in strong Long Trends on 4H charts and had recently had a sell off and were resisting going further short. OK, I’ll keep on eye on any price action on those come 0800 and the markets get into full swing. I didn’t have to wait long….at 08:00 the overnight high on EURCHF was broken of 1.3630 and now I wanted to wait for the retrace…that happened almost immediately.  I have a pivot point to work off and close to the break-high-of-the-day. I setup my order with a 15pip Stop Loss and 30 pips target and entered at 08:24. I go to make a cup of tea and fix up when I can pick up my dog later today. Come back upstairs and no open positions ???  What – I’ve been stopped out already – that was quick. I look at the charts and no – my target has been hit at 08:38.

So what to do now; keep fishing for trades for the rest of the day ? I want to as i enjoy the work. But no – I will pick the dog early and come back to the markets tomorrow.   Does anyone else understand the analogy between fishing and trading ? Very similar endeavours and similar skills required….do you agree ?

Chart from my trade this morning:

SNAPPERBRKOUT_EURCHF_020810

Happy Trading

Jimmy

If you enjoyed this post, make sure you subscribe to my RSS feed!

Permanent link to this article: http://intradayforextrading.co.uk/2010/08/02/eurchf-for-breakfast/

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>