Monday 2nd July

by 11:09 0 comments
Great start to the week with a 2.11% gain from a EUR/USD (there's a surprise!) short.

I chose to close it early but within my strategy as it was a very likely place for a reversal. If I hadn't closed it i'd still be in the trade now as it basically went sideways over night and wouldn't have caught my stop. The first half was closed at 1:1 as normal and I let the second half run for a while. Once I saw we weren't going to break the 50% of Friday's zone I decided to close it. It actually got pretty close to the next target - 8 pips away at 1.2560 but didn't quite make it. Still, i'm very happy with the gain, covers Friday's loss and gives me a great start to the week with which to build on. Most of the info is annotated on the charts below.

First is the 15min charts with the relevant zones marked; 

 EUR/USD 15min

5min chart with my entry and reasons for closing;

EUR/USD 5min



28. Forex. Trading. Music. Beer. Food. Travel.


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