21.07.2010
EURUSD
Today risky day as the stress test results pending. Howewer, in a strong bullish move. Normally I'll consider only longs, but as stress test pending short might be also in play
My Analysis
Seems like a pattern, depends of where it breaks wedge it might go up or down, right now directionless
Other Analysis
- Mataf.NET: Trend down
Entry: 1.2885 Target1 1.2845
- DowJones Forex
Intraday EUR/USD: A key bull failure at 1.3029 prompted a sharp setback to 1.2839 Tuesday, and provides a valid signal that the uptrend is reaching exhaustion. While corrective gains are capped beneath 1.2960, the main threat is for renewed bear pressure on the 1.2839 low, creating room for further weakness towards the 1.2775/85 Ichimoku cloud support area. However, this area should manage to contain weakness for Wednesday's session. Only a sustained break above 1.2960 would question the bearish outlook, opening 1.2998.
Trade #1
Took the short after price got under the wedge and under yesterdays low with high volume.
TP of 17 pips in under 10 minutes
Afternoon
Plan: EURUSD look for shorts from under 1.2840 stops above 1.2873, for 1.2776,
Second trade
Got blown into shorting EURUSD at 1.28000 it went for 7 pips in my direction but then pushed back and I got stopped out
Error: Got carried away and entered without checking that the bottom was only few pips away
Conclusion: NEVER BUY NEAR THE BOTTOM
Tool one more stupid trade in the evening and lost 20 pips
Conclusion
Impulse trades are stupid. Have to focus more on analysis. Ammending the trade plan not to take trade without letting close 2 minutes after impulse and thinking again
