ForexSpirit

I awoke this morning, peered at the digital readout from my bedside clock and uttered: “Crap!”. I’d slept in thirty minutes beyond my usual wake up time. I had forgotten to turn my bed side alarm back on last night. I’d turned it off yesterday morning as I was awake early and did not want it to disturb my wife. I very rarely turn it off so I don’t normally need to check it.

When I got my charts up I saw another strong move down had taken place during the last couple of hours in the London session. A countertrend move had begun to unfold.

Bias: Long
Conviction: Strong

If I had been awake for the first half of the 6:00 hour I can only hope that I would have taken a long position or two. Good entry points would have been at 6:06, 6:22 or from 6:30-6:35.

Since I had missed all those I played the breakout at 1.3775. There was no follow through and I could see it rolling over into a breakout failure so I exited at BE.

When price broke back down below 1.3775 I got in. I viewed the breakout failure as enough validation to change my bias. I tried to hold on for a 10 pip move, but 7 was all that was offered, in line with the minor support level at.13768. I should have taken what was offered, especially since I’d failed to avail of the move up earlier. I bailed at -1 pips. It was getting too close to 7:00 EST for me to consider averaging down or waiting to see how price reacted at 1.3775 again, since Canadian employment data was going to be released.

While today was essentially break-even overall, I’ll take that over the SNAFU performances of the past two days any time.