Wednesday, July 6, 2011

FX: Trial by fire

I am annoyed as hell today as my technically sound logic of shorting EURUSD today went "unprofitable".

This picture best describes what happened:



Missed 120 pips of profit on 20k units or $246. That trade could have made the week. Imagine if that was real money.

/ragequit
14.78 gap still unfilled in PCOR (today's low is 14.80). If gap is left unfilled, expect the next swing to head up to 16.76 which is also the "upper box" breakout target (16.80).