I’ve missed this perfect long setup for a breakout pullback entry. I hesitated while I was considering that the pair has given back most of yesterday’s gain. The price broke out and never looked back. I entered long at Bar1 when the move paused and retested its prior long at 0.8725 which in hindsight was a good entry. Nonetheless I closed the long at Bar2 near break even being uncomfortable with the price level. Big mistake. In fact two mistakes in the same trade.
EUR/GBP: abandoned late long
This entry was posted on Thursday, March 24th, 2011 at 6:38 pm and tagged with entry, EURGBP, mistake and posted in journal. You can follow any responses to this entry through the RSS 2.0 feed.
Tag Cloud1stthrust 123pattern AlBrooks atr AUDUSD breakeven breakout confluence correction DAX doubletop ECB EMA entry EUR EURCHF EURGBP EURGBP pullback EURNOK EURSEK EURUSD exit fakey FED fibonacci firstthrust flag flow futuresmag GBPCHF GBPJPY GBPNOK GBPUSD GBPUSD pullback headandshoulders insidebar keltnerbands measuredmove mistake performance pinbar pivotlevel priceaction psychology pullback range recap reversal s&p500 setup stoploss strategy support tactics takeprofit trend trendline USDCAD USDCHF USDJPY
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- Summary 3/19 – 3/23
- Weekly Economic and Financial Commentary: Inflation Showing Signs of Taking a Bite Out of Growth
- The Weekly Bottom Line: U.S. Economic Boom to Last Through 2019
- Week Ahead: Fed, BoE, G20 in Focus
- US Fed and BoE to Guide Markets
- EURUSD Falls Further after Upbeat US Data; Focus Turns Towards FOMC Meeting Next Week
- Week Ahead – All Eyes on FOMC Projections; Pound in Spotlight as UK Data, BoE Awaited
- Australia & New Zealand Weekly: Near Term Positives Set to Fade for Commodities
- Japan Releases Trade Figures as Yen Increasingly Challenges Multi-month High Versus Dollar
- GBPAUD Bulls Break 1.8000 and Enter Overbought Territory