On Wednesday I posted on my short bias in EURNZD .
it’s always interesting to look back at your thinking from previous days to to see how your thoughts/bias evolves over the trading sessions. I still keep a log (thick A4 size hand written notebook) to record my thoughts and perception of trades that I have on my radar. You can get distracted and tired watching screens for hours on end. This may seem a little ‘old skool’, but I’ve found it a good way to keep my mind focused .
To see my thinking on this particular idea please clink on this link . It will save me repeating myself, and most importantly shows a ‘snapshot’ of my thinking from Wednesday. Has my bias changed ?. How did I trade my idea ?.
Below is a chart shot taken yesterday to show what I did. I have only been taking short trades/scalps in-line with my bias.
The 38.2% and the lower slanting trendline (red) were my areas to short from. Together with the bearish candles (yellow arrows) proved to be a very good indicator of the price turns .Three trades were taken and pips banked from all three and holding a core short at the time of writing.
My bias is still for further losses until the market tells me otherwise. The final chart below is a current chart showing yet another bounce from (what now is confirmed as) a short term support area around the 50% and 38% fibs from the previous swings .
Good luck in your trading today. NFP Friday – so be extra careful…- Your comments are are always welcome 🙂
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i like your method. i should practice more…
Many thanks Q
It’s always difficult to convey your thinking in real time .
If you put my posts together it will give a running theory of how I attack the markets 🙂
Many thanks LD
Best of luck with your trading this week 🙂