DislikedOk
My chart does look very unprofessional, but I will try to improve it in the future.
Plan for G/U:
No doubt that I need to stay bearish on this pair, as well as E/U, but I do see price heading back up to test the supply zone indicated by blue rectangle.
I will enter 2 long orders as declining trendline breaks with stops just below the last week's low.
1st TP is 1.473 and 2nd TP is 1.48
As price touches each TP, I will close one lot at a time and place a sell order.Ignored
I should have stayed with my plan of selling when lower the low trendline broke, but couldn't get over my bias of longing everything...feels terrible to start the week with huge loss.
Same lesson learned: Stick to your chart and your trading plans! damn it
Thoughts on E/U:
Interesting to see it's holding up relatively well compared to Pound. However, trendline on 5m chart was brokend and retested, so I will stay bearish and have shorted 5lots.
SL is placed little above today's high.
Once we break 1.233point, which was the lowest of 2008, we will see lower for this pair.
*For this week and coming weeks, I will try more shorts then longs. Not just because market condition is bearish, but also I need to become comfortable with shorting...(I am very comfortable with longing, but shorting still bothers me!!)