On Tuesday Jan 14 I entered a trade short at around 15:00 on EJ. I could have taken a small profit on the 16:00 5 min bar but let it ride. On the 16:45 bar a small range had formed and this late in the day I should have exited for a small profit. My trading session I try to end before 17:00 UK time. However I left it to run and finally got out with a bit of a profit at 01:30 am Weds morning. This had a knock on effect as getting up the next morning was a struggle. I need to take warning for the future. Get out late in the day when the first opportunity arises as I might not get another so quickly.

This is what the day looked like on the hourly chart on Weds 15

Now I want to comment on this hourly chart for another warning. On Fri Jan 10 the market dropped 156 pips  in 3 hourly bars then made a 58 pip pullback to  the highs of the first bar on Mon 13. Then price made another big drop before the next reasonable pullback of 55 pips. Almost the same size. Note there were already 2 smaller pullbacks both identical 39 pips.  Now as a contrarian trader these pullbacks when others are taking profits are when I'm looking to enter. Now look at Weds 15 down move a pullback of only 37 pips so really I need to be thinking that is 37 pips enough to make a profit on the next pullback and what if it is a bit less? Next I show what happened on the next chart. The next pullback actually fell just short of 37 pips at 33 pips, so the answer would likely have been no unless my entry was pretty good.

So for this weeks trading I am up just over a quater percent $507 taking my results to be as shown on the charts below. Cautiously edging my way to the halfway mark of $10,000 profit.

Create Your Own Website With Webador