It’s very difficult to convey your thoughts on anything in real time. I noticed some opportunities in EURNZD earlier and posted my live thinking in our trading room.
Not all good. I was stopped and price took me out for -10 pips as I attempted to sell just above previous short term resistance.
It was rejected sharply and I made the decision to short again once price moved above the resistance at 1,6852 .
When you watch charts all day it is ‘unusual’, yet not impossible for price to fall below a resistance and then power up again. With this in mind I picked my spot to try and get my stop money back . Rather foolhardy in the big scheme of erratic price moves .
I struck lucky and price moved quickly down towards the Asia swing high where I gladly snatched +32 from half the position of a possible +41 before we headed skyward again .
My thinking was that NZD selling was overdone . A scary episode , but at the time of writing we are pulling back again. The first original chart posted in our trading room shown below .
My remaining half trade stop loss is just above the new highs of the day for a small loss , yet still a small overall win if taken . Not the most glamorous of trades ……… It’s not all Champagne and Caviar this trading life 🙂
EURNZD-H1- Scalping the high
Philosophy: "Trading rules.....it most certainly does"
Read how Horatio got into trading here
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Haha more like fried chicken wings and chips 😛
A plate of cockles and a pint any day Tally ?
although i would want it higher probably 1.70-1.80 area…i believe its a good short to medium term call ….
WOOF