June has been a bit of a roller coaster ride, with most of it spent with me white knuckled and screaming as the track plunges vertically downwards. For July I hope for a boring everyday grind with a dearth of heart stopping moments.

Those of a nervous disposition might want to skip this paragraph; I’m going to total up my losses (since there weren’t that many gains to be honest). The account equity change for June was -19.985%. The majority of this disaster came from one gut wrenching day,June 17.

Today was another step on getting back on the correct path.

After overcoming the barriers at 1.4450 and 1.4500 during the Tokyo session, the London session had seen a bit of a pullback.

I went with a long bias to start with. 1.4460 and 1.4450 looked like offering decent support and I factored in a retrace of part of the London session’s down move.

Bias: long
Conviction: medium

I was initially hoping for price to test the support at 1.4460 before looking to get a long position on. Price had other ideas and the euro bulls ratcheted price up slowly but surely right from the off. By about 6:20 EDT it was clear that an upward trend channel was forming.

I would have gone long at a touch of 1.4475 but was foiled here too, with price making a low of 1.4477 at 6:21 EDT.

The high of the hour at 6:25 EDT broke the trend channel line and I started to look for an opportunity to get short. I waited for one more push up and when it failed to make a new high I was ready to enter a sell trade.

I got in with the blue entry at 6:32 EDT and had to wait a few minutes before seeing price start to break lower. Since I’m now looking to try and take advantage of longer moves if I possibly can, I decided to move my TP level from its default 10 pips and moved it down to 1.4466, just above the low from the 5:00 EDT hour.

It was a worthy attempt. Price came within under 2 pips of my TP before bouncing up. I didn’t feel like taking this trade as a BE so I moved my SL to 1.4478 which got hit soon after. As a counter trend to the clearly daily long bias maybe I shouldn’t have reached so much.