ForexSpirit

Continued unrest in the Middle East has taken oil to over $78, which in turn has strengthened the dollar.  A big drop in the London session means it is time to rid myself of my two open positions from Q4 as we are now in low Q2.  Plenty more buying opportunities will be around soon enough.

Shortly after closing out my earlier positions this morning I had an urge to continue riding the dollar down.  I even put on a two lot position against my one direction, based on my last post about trying to ride high probability moves against my one direction.

Given the current unrest in the Middle East and the drive to safety to the dollar this was a valid enough play.  Unfortunately after all the activity in the London session, things just stalled for the rest of the day.

By lunchtime price has gone nowhere and I decided to close out my position at breakeven.

I also realize now that I made a mistake in how many lots I used for this trade.  As a trade against my one direction, going short euro meant it should have been a Q3 trade (not a Q2 long trade as I would normally view it).  I need to be move careful in future.