Thursday, June 17, 2010

short at 1.2378

made a misstake, short at 1.2378 and stop 1.24 target 1.235..

Reason for entry, there is a price/macd div on 1 minute chart, and this end of day session (it's 10:53 now at PST) shouldn't last long... The thing is, 1 minute chart at the end of day is too choppy and also, it's not really a DIV yet, if I waiting for another 5 more minutes, the entry at 1.2385 level will be a true DIV setup.

Also, I should take half at 1.2374 as my initial risk is only 4 pips (stop can be at 1.2382)..

Anyway, this is a bad entry, now it's just a question of how I manage it.

I still have the stop at 1.2400, which is -22 in worst case.




At 12:00 PST, anyone looks eur/usd feels it's a head and shoulder pattern now? I'm setting my target to 1.2300... hope this 2400 is the top...

update:
at 5:00 PM PST, I was trying to close my position, I shorted at 1.2378, but the greedy in my mind keeps me waiting and now it's at 1.2390... Anyway, my stop is at 1.2410 and I will let it hit. It's just one trade and it's just 30 pips lost, no one trade should break me or make me .

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