Monday, June 30, 2008

Uptrend turned into downtrend

First in the morning it was ready to break previous high so I entered. It fall back, I waited and decided to add another trade if we have successful b/o of 810 level. After it all happened I expected big and fast move, there wasn't one. So I took quick exit probably because I had two positions. Two minutes later I took my chance on failed b/o and got quick reaction, spike down. I took profit because it could as easy spike up.

Than I wasn't by the screen until about 10:30. I wasn't prepared for that new b/o of 820 level. Again I tried short because it was so slow in going up. I didn't expect much but small scalp. After I took profit I was looking for entry for next push up. First nothing, than I made mistake of not taking small stop loss. I leave losing trade on, averaged expecting 800 support. Well it only stop at 795 and I was deep in the red so I was more than happy with b/e on those two trades.

Again later was push down. I was still with my mind in uptrend and I didn't believe that it's not any more. I took two tries of looking for reversal. In the end I took scalps on both. Tricky market, big risk with averaging and small scalp profits.
+10 full size pips

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