So it seems like all I’m looking at is the euro right now, and I can promise that’s not the case, but the pair just seems to be throwing up entries left right and centre, and my strategy refuses to let me ignore them. A few decent wins over the last week or so in the pair makes it a far easier position to take, however, and here’s a fresh one I got in to last night.
Those who caught up with my previous entries will be aware of the fact I was a bit concerned about getting in against my fundamental bias. Not to the point that it would stop me from entering (if I didn’t enter every trade I was a bit on edge about my strategy wouldn’t have kept me profitable all this time!) but enough for me to take a little bit of extra stress with me to bed that night, on both occasions.
Basically, I’m very bullish USD. Ergo, any position that goes against this bullishness, goes against my better judgement. Luckily for me, my judgement is wrong more than my strategy is. I got into two EURUSD trades long against my bias, and ended up taking triple digit pips out of the market as a reward.
Now, price has given me a bit of a reprieve, in the form of an excuse to get in short.
Yes, we’re right on the cusp of one of the most politically contentious nights in US (and global, I suppose) history, and yes, this concerns me. It doesn’t concern my strategy, however, who seems blissfully unaware of what’s going on across the pond.
Anyway. Short EURUSD, entered at close on Monday, stop at the tail and a target of 1.093. Not quite two to one, but close enough for rock and roll.
Let’s see what happens.