"Take Risks: If you win, you will be happy; if you lose, you will be wise. Nothing ventured, nothing gained."

Monday, March 29, 2010

29 Mar, Aud/Usd Eur/Usd - Enter with a Plan!


First (long) position entry on Aud/Usd. Reason for this pair? Aussie seems to be holding on the strongest against the dollar since the start of the day, forming nice uptrend.

Price went up to 12 pips and made a rebound (double top). During that point when i was floating profit of between +10 to +12, i was hesitating on closing the position. i thought price would break a new day high, but then again, taking a look at the bigger picture, into the Daily timeframe, today this pair has already made 125 pips day-range. Still stretching higher?

Finally after attempting the third time, price made a new day-high and i rode some allowance of it and close position. Phew, i was in floating loss before this happens.

I missed that last two bull candle, i was waiting for the price when nature calls. i wanted to enter a long for retracement but i dont wan to shit my pants for the sake of it. came back and the bull candles has already formed. i missed it! down along with my flush!

Longed after another retracement and scalped some scrap before price continue to range.

+24 pips.


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