ForexSpirit

Some conflicting emotions this morning when I got to see what price action had been like overnight.

Relief that I got out of my short position yesterday when I did. Shifting my viewpoint to the possibility that a real breakout might actually be on the cards seems to have been vindicated.

Disappointment that price missed my long limit order by two pips. Missing out on such a big move by such a small margin can be a bit frustrating. I console myself with the fact that there will be many more large market moves in the future. Plenty more chances to come for me to avail of. Thoughts of the missed opportunity entered my mind a few times during the day. Since I don’t want to dwell on negative thoughts I just used my meditative technique for emptying my mind to purge myself of the tinges of regret.

You can’t make any money as a trader by focusing on the past. You need to focus the vast majority of your energies to what might happen in the future. Only look to use the past as a reference on which you can help build a framework for your decisions to those potential future actions.

You can’t change anything that happened in the past. You can only act in the present to what you think is going to happen in the future.

There is sure to be at least some profit taking come Monday which could result in a dip back into the 1.29s. I think it is looking more and more likely that at least a half grid adjustment will be needed.

With the huge resistance that the 1.29 level has provided all year I would be more inclined to actually move the grid fully. Thus, instead of a half grid adjustment where the bottom of the grid would be 1.27, a full grid shift would have the support line at 1.29.

Dollar weakness seems to be contagious for the moment. I’m sure that 1.31 will be tested by the end of next week. Most likely the 1.3127 high from April 2005 will be at least temporally broken.

We’re back to living in interesting times.