Wednesday, March 3, 2010

Swing trading

First trades in gbp/usd were after favorable news for gbp with half size. Add on was too early. I "sold myself a story" that I will buy it at lower price so I was able to exit the trade with small loss of -5 full size pips, untypical for me.

Next was long in eur/usd after some retrace, and soon additional trade in gbp/usd also expecting price going back to it's highs. It was long wait, with problems in gbp/usd not holding like eur/usd.
Eur/usd started rallying moving 20 pips in 3 minutes. Much of the move was on eur/gbp strength so gbp/usd didn't follow as quickly. It could have been exceptional break out if it did, maybe it will be later.

+44 pips

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