A better showing today, even if I still have work to do on that patience (I’m sure this will be a recurring weakness that will drive me nuts until I get a grip on it).

This morning the euro was ranging from 1.4255 to 1.4325. With price hovering around 1.4270 at the start of the hour I was looking for price to test the range low first.

Bias: short
Conviction: weak

Right from the off price plummeted down to the support at 1.4255. With the forcefulness of the move I was mindful that if the support level broke price could be well on its way down to 1.4200. My short bias was growing and an itchy finger got me in too early with the first trade of the day (in burgundy). I bailed when price broke the minor high at 1.4258 as there was no follow through.

I was sorely tempted to enter shorts at 6:12 EDT and 6:19 EDT when price was coming back down from those spikes, breaking the micro trendlines of the pushes up. In hindsight these would have been good short entries. At the time I wasn’t comfortable quite yet on doing these sort of trend entries.

My second trade (in orange) was jumping on board the breakout at 6:22 EDT. I still had my short bias hat on so was happy to jump on this instead of waiting to see how it would unfold.

When price pulled back up above 1.4255 I had no problems recognising the false breakout unfolding and switching to long (and thus an improvement on yesterday). I killed my short trade and attempted to put on a 10:1 long position.

My butter fingers managed to initiate a short position instead. I swore profusely. Closed it out and went long.

I held the long until we’d reached the prior spike high.

Nothing else stood out for me in the second half of the hour so I just sat on my hands.