Today was a slow and nonprofitable day. I was 0/1 in day trades and 0/1 with swing trades. Lets start with the swing trade. this morning I took a short position in the AUDUSD on a trade technique called the 2618. The position looked to be a really good setup because it was a retest of a double top at a strong resistance area. Unfortunately a few minutes after entering the trade this mornings surprise news came out and I was stopped out on a candle that ended up rallying over 100pips. A few minutes later when things seemed to calm down a bit, I entered a day trade that also lost on a failed ABCD pattern. Afterwards I pretty much told myself that my trading day was over. Not because I lost, rather because with seeing the size of the impulse candles I knew that there would be a little to none chance of me getting anymore valid signals. I was also a little upset about the news release and mentally I felt somewhat of a revenge trading mindset coming. Therefore I felt it was best to simply back away and just be a watcher. So the lost day-trade was -96 pips putting us at -27 for the week. Let's see if we can get back into positive territory for the week. Either way the day-trading is still up 372pips for the month which I will gladly take. See you guys tomorrow. Also if your looking for some great trading ideas, charts and videos check out this site from Jason Stapleton http://forexmarketpreview.com/
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