Posts Tagged gbpjpy
The chart shows what happened after I closed. The price action looped ripe for another entry short to ride the market lower but I felt anxious....
I am just not sure what it is but my instinct tells me to be careful... I attribute it to a couple of things, all trading psychology related:
The possibility of losing my 47 pips that I have already made.. it's always nice to finish the week a winner!
The re-entry looks too obvious a trade... a bear trap perhaps?
Maybe I am thinking to
June 12, 2009
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I went short GBPJPY 161.93 just before the market just dropped and managed to get out before it started to rise for 47 pips. I like these sort of movements... all in less than 10 minutes. I suspect the price action would end lower after this bounce upwards but I don't want to keep any positions open over the weekend.
June 12, 2009
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I felt that I had to put this chart which shows that the GBPJPY did indeed reach the target I mentioned at 15645 and then promptly fell (note the stochastic move below 80)... this should have been my trade if I had followed the rules... it would have been a lovely 95 pips in the bag... this chart will remind me of the missed opportunity and the reason why one needs to stick to the gameplan...
As I write, the GBPJPY price is at 15620.. it bounced perfectly off 15645...
June 4, 2009
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