Today we had similar trading conditions as yesterday, and we aslo had the same kind of results too. The EUR/USD has been caught in basically a 100 pip range between 1.4950 and 1.4850, forming a sideways channel. As I've mentioned before, consolidation with high volitility is the worst scenerio for my trading strategy. Hopefully we see a breakout with some momentum soon.
My first trade of the day was taken as continuation trade of the swing low initiated during the London session. Price moved down taking out some minor resistance but then reversed and stopped me out at breakeven.
My first trade of the day was taken as continuation trade of the swing low initiated during the London session. Price moved down taking out some minor resistance but then reversed and stopped me out at breakeven.
Visit my journal here.