Every trading blogger I’m following at the moment, seems to have stepped up a level in their thinking processes. Sorry to disappoint, but this is more workman-like.
Just a check-in to say I’ve been working all week, long shifts and my first days trading was today. I managed to enter one trade that went my way almost immediately, but then price couldn’t make it’s way out of a tight slow 5 minute channel. I had a limit order ready, but closed and re-opened after the 09.30 gmt GBP announcement. Being Friday I had to get out early, just after 3pm gmt. I had to collect my daughter from school and couldn’t risk missing the 5pm close of the platform. Indecision around exiting early cost me up to 10 pips. I made the decision to get out at the top of the 5 min channel, but it whipped back down leaving a pin bar on my indecision. (Sorry Shonn)
It is only testing though and raises the issue again of how I trade Fridays. Still, one trade and one partial winner. I entered long, 2 pips above 1.6600 support confluence with a take profit just 75 pips (It could have been more but it was Friday). This was also the 62% golden ration extension of the pullback from the peak yesterday and the measured move of yesterdays push up. The stop was 25 pips below, under the 80. Exited for 40 pips, which was only just over half my target. Doesn’t Friday suck!!
As usual, the squares are the limit orders. The blue triangle my entry long and the yellow triangle my exit short.