- Crap market. Equally crap trading here. I keep asking myself - could I have caught this Risk Off move from looking at my charts? Unlikely. Short term reversals are not my game. Longer term trends are. But I need follow through to make money.
- Initial short at 0.9070. Added on at 0.8982 as downside momentum appeared to gather strength on chart. Damn! Overall position out of money (due to the pyramiding) again!
- Bernanke no hint of QE3 last night unleashed torrent of Risk Off activity that has pushed USD/CHF to a high of 0.9071 so far.
- Fortunate to have scratched the long Ten year position at 131-06 last night (ZNM2 low 130-11.5 today) so I can focus solely on managing this one. Better not to have to many balls in the air when its not going well.
- Still reading this as daily SHS top and this move, however irritating, is merely a pullback for those with bullets to add on. Nothing done here. The weekly chart is little affected by this current uptick.
- Convinced we'll see 0.8560 in time. Trick is how to stay alive for the move.
4 comments:
IMHO it just cleared a double bot. may go up to test trendline yet..
Cut loss.
Good luck bro =)
I am staying in the game. I had shorted USDCHF at 0.9004.
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