Thursday, March 18, 2010
I came back one hour later. In the meantime price had retraced sharply to the 20 MA on the 15M chart, then resumed the down move. I entered late, close to previous low, a capital mistake, as i was sure of the strong bias, therefore a new leg down was almost due. I got an absolutely natural rebound in the face after my entry, I didn't close at -4 and price immediately approached the maximum loss i could support : 15 pips. The moment I was deciding to exit, euro made a red hook bar, started to go south again. Game saved with 14,5 pips gain!! I was very lucky this time. After 5 years in this market (enough time to get a PhD on other sciences..), I still commit newbie mistakes..