Thursday, March 11, 2010

Escaped a loss

Shorted GBP/USD at GMT6:49 after confirming the trend.
D1: Downtrend (ignored SAR, while RSI is oversold)
H4: Downtrend (though the MACD is converging)
H1: No clear signal (MACD & ADX crossed up while EMA is sideway)

After moving in a range for more than a hour, I manually closed it with 10 pips loss. It should have been a trade to be avoided. Still needed to exert control on my emotion and addiction.

Most pairs seemed to be moving in a range, possibly awaiting news announcement for it to sway.

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