Friday, June 18, 2010
18 Jun, Eur/Usd - Boring & Whipsaws
Boring market. Check out the blue triangle i drawn. Before i drew it i was selling at the bottom of the line, with the smallest size. I seldom go in the first trade correctly, so i went in minimal size first. followed by an average in, around the middle of the triangle. Closed the first trade at loss and 2nd trade got stopped out at the top shadow of the candle, it touched my s/l and went back down immediately, and never got back up that price for the rest of the trading night, because the tops were lower n lower (triangle).
Therefore, i waited for the price to touch the top triangle line before i sell next, at higher size. i could be wrong and that triangle drawn could simply be something no different from a toddler scribbling on a piece of paper at the end of the day. market was simply quiet tonight. it took quite a struggle before it wiggle its way down unwillingly.
i averaged in twice with all three open position higher size then my first two loss. an eye for an eye, my first position take-profit at bottom shadow of the candle exactly before price go back up. i closed my second position right after my first. i held my third position at +8, until price went back up to +1 and i closed it before price flew back into the damn bermuda triangle. luckily i went out myself before i was made "disappear" (stop out) by the triangle.
b/e pips. (+1.1% as winning pips are higher size)