Worst trading day in a while…

Today was the worst trading day I’ve experienced for a long while.. I don’t know if it’s because of the Bank Holiday and low volumes but the market is just drifting from up and down. My entries today have all resulted in a loss.

Firstly EURUSD, the market had lost upwards momentum and I was anticipating some downwards pressure.. however, the market turned upwards and didn’t break down.. I got out for a 5 pip loss.

26th-may-eurusd

Then the GBPUSD was the same thing… thought there was a top pattern so I sold at 15923 and got stopped at 15941 for a 18 pip loss.

26th-may-gbpusd

So I figured the markets were going up.. I went long GBPJPY 15151 and got stopped out at 15122 for -29 pips! Ouch!

26th-may-gbpjpy

Anyway, I have one more trade which is still ongoing… at this time of writing it’s not looking good :(

I am short GBPJPY 15124 and currently 20 pips down!! Arrgh!

26th-may-gbpjpyb

Chart is small but there is a nice supporting trendline.. the market failed to push above the high so I am hoping that the trendline will break and then a rapid descent lower to 151.00 and then 151.60

There is not much conviction with any of the moves and perhaps I should have waited for there to be more momentum before I risked my money….

Oh well, I’ll update you on how the last trade went but of the closed trades, I am currently 52 pips down!

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Category: Forex trading, Spreadbetting, Trading