27 July 2012

EUR/USD : Tempting But No

  • Short positions (1.2299+1.2160) stopped out at reasonable levels and timing.
  • Re-entry short could not have been made at a worst time (just before Draghi comments) and level (1.2133).
  • Rally has taken us to what should be a selling zone.
  • However, trading discipline (rule 9) precludes me from adding on to a losing position. In the past have gotten into trouble many times for breaking this. Thus, kicking myself for getting in too early and am only watching from the sidelines.
  • Damn tough markets.

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