Monday, 20 July 2009

1.4230-35 - Short & Covered


Well I was pretty surprised to find that EURUSD had broken though 1.4200 early monday. I had been leaning toward feeling it was going to be around or below 1.4100.

I shorted some because 1.4230-35 was showing as slight resistance and price had shot up through the big figure 42 without consolidating. I'd expect it to do the latter.

When I had 8.8pips (88$) I took profit though. 1st trade of the week needed to be profitable. I sold into red candle and bought back when minute chart showed hesistance to break though 1.4220. I'm pretty annoyed I need to pay 2 pips on a round trip! I often only go for 10 pips anyway. So broker is taking 20% of my profit if you will.


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