Tuesday, July 8, 2008

Waiting for break out

First trade I patiently waited for long signal and 30 sec before I had to reconnect internet connection, than I finally got in about 10 or 20 seconds later. Market didn't move, I was waiting and than I had to go because of job related emergency and I didn't want to leave it on unattended. When I came back after 10:00 I was angry when I saw nice uptrend. Than I had that trade in yen that was emotional, it was to early for reversal to late for a scalp.
Than I entered short in eur/usd, I had close stop in mind. It was nice situation where something got to happen, new high or reversal.

Later I go long in gbp/usd because it looked strongest and ready to break out on it's own. It didn't move in my favour but it didn't show signs of reversal. So I was again patient. There was a major fight across the board at the attempted break out. Again gbp was strongest but others start to go back and I was because of it out. I did hope on brutal break out from 800 level but it didn't happen in the end.

+13






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