Charts - Thursday 26th February

by Liam 08:42 0 comments EURUSD

If you look at a chart for EU yesterday you'll see that it dropped quite a bit. If I was to tell I took a short and had a loss, you might be a bit surprised. Well, that's what happened.

Essentially, I got in a early I guess. The entry I took was good and followed all my rules, it just wasn't too be. Price went back up and flushed out any weak holders. Then it went down. Unfortunately I didn't get an entry for the main leg down.

EURUSD Sell

Bar 1 was the highest volume for the time and I took the short from the bottom of this zone. I perhaps should've waited to see how that volume played out before trying the short.

Bar 2 was another spike in volume followed by an upthrust, I could see this was weak but I didn't want to short in to the higher volume that was bar 1. Hence not taking the red sell signal. If this had formed after clearing the yellow zone then I definitely would have got in, but it just wasn't to be unfortunately.

Cheers,

Liam