What a crazy day for 1st April.
It was a really horrible morning choppy choppy choppy as hell.
1st trade short on EURUSD left my account 24.8 pips lighter (oh yeah thats PLUS charges).
It seemed like a good the time, nice down move, nice retrace, looked like a bear flag (why am I trading bear flags? I’ve regressed about 3 year YIKES!) and the market smacked me real quick
After that is was all good in the hood!
The Yen crosses eased my pain and I’m still riding a couple of them at the moment with a bit of shrapnel after having scaled out during the day
Currently +93 on EURJPY and +78 on GBPJPY
One thing I am trying to add to my toolset is scaling into moves that are going in my favour. On reflection I missed a great opportunity to do that here. Ride the Winners. We’ve heard that statement enough times and this would have been a great opportunity to make a great trading day into a FANTASTIC trading day by adding to my position on the retraces to the moving average. I’ll save that for next time.
The thrill of the day was the cynical intervention by the Swiss National Bank at FIVE TO FIVE just before most of Europe closes for a long Bank holiday weekend. Talk about timing their move to perfection. No doubt the city boys were already in holiday mode and on the way out the door.
Seconds before THEY made their move I was lamenting over a nice short on GBPCHF that I felt I should have taken. THANK GOODNESS SOMEONE WAS WATCHING OVER ME AND I DIDNT TAKE IT!!!
But no doubt some of you did and you were absolutely right to do so. There was nothing on the charts to suggest a move of this magnitude was on the way so don’t beat yourselves up over it – I just hope you used a stop loss!
Some traders definitely got spanked good and proper by that 236 pip move in 10 minutes!!!!!
In case you missed it …..here’s the chart
I’m not bothered about not catching any of that move to the upside. I’m just thankful that I wasn’t caught on the wrong side of it.
It was a close call and a BIG thank you goes out to my guardian angel. THANK YOU