Scalp journal – 10 December 2008
While yesterday saw the concentration of my fire on EUR/USD today it was focused on EUR/JPY.
The EUR/JPY trade carried over from yesterday booked 10 pips profit. There was one overnight trade made followed by four more trades during the NY session.
I tried to play very defensively in sterling as it seemed to be extremely rangebound. Obviously not defensive enough as I’m carrying over a trade which got entered at 1.4820 just at the end of lunchtime.
The euro has gone into an extremely narrow range since about 15:00 EST. Could it be coiling up for a test of 1.3100?
With hindsight it would have been perfectly fine to leave the two limit orders I had in place on EUR/USD. The cancelled orders are the purple squares on the chart. I was eyeing the equity market moves and felt that the strong up and downs would results in equally strong moves in EUR/USD which could blow straight through my entry points. Seems like the euro is actually being a bit tentative and timid around the 1.3000 handle.
| Trade | Market | Direction | Entry | Exit | Pips |
| 1 | EUR/JPY | Long | 119.40 | 119.50 | 10 |
| 2 | EUR/JPY | Short | 120.50 | 120.40 | 10 |
| 3 | GBP/USD | Short | 1.4850 | 1.4840 | 10 |
| 4 | EUR/JPY | Long | 120.70 | 120.80 | 10 |
| 5 | EUR/USD | Long | 1.3000 | 1.3010 | 10 |
| 6 | EUR/JPY | Long | 121.07 | 121.17 | 10 |
| 7 | EUR/JPY | Long | 120.75 | 120.85 | 10 |
| 8 | EUR/JPY | Long | 121.00 | 121.10 | 10 |
| 9 | GBP/USD | Long | 1.4759 | 1.4769 | 10 |
Total daily pips: 90
Related Posts:
- Scalp journal – 12 Novemer 2008
- Scalp journal – 8 October 2008
- Scalp journal – 28 October 2008
- Scalp journal – 10 November 2008
- Scalp journal – 12 December 2008
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