Trading Day Summary for 2/23/2011
This month has been up and down. I was sick for a couple of weeks causing me to miss many days of trading. Unfortunately many of those days were days of high volatility and opportunities for great trades.
Today I stuck to my new resolution of just a few trades per day.
I started with a Long of $EURUSD. I saw the euro break out of support around 1.3737, I decided to go long on the pull back thinking it would break though at least the 1.3745s. Unfortunately the movement has no momentum and I was stopped out.
I than shifted my attention to $GBPUSD. after the false breakout in the EURUSD the GBPUSD also went down. A bottom was forming around 1.6215. My reasoning was if the GBPUSD breaks the 1.6227 than it would go straight higher.
The Euro finally broke the 1.3741 after the Existing Home Sale numbers were released. My last trade was just a momentum continuation for about 8 pips.
