Wednesday 9 September 2009

Message 49

Yesterday was a cr*p trading day! Obviously got stopped out out on the 1.4350 short, accidentally took a long on NZD / USD with my one click trading being the culprit on the train...in retrospect if I'd left the mistake open it would have been very profitable. Lastly, entered an aggressive short for 1% bank on Euro and that obviously lost too...I'll update trades later - lessons learned!

Price has broken upwards again and has broken the Daily upward trendline connecting the three highs on the chart - the daily resistance line was at 1.4510 and the price has not closed on the daily or 4 hourly above this line at present, but as it has reached 1.4550 it looks likely that this resistance trendline has been breached. Therefore I am not looking to go long (i.e. in the direction of the trend) at a pull back at this line with a stop loss below the recent lows at around 1.4360.