15/9/11 2150 Hours :
My pending short at 1.382 went for +50 pips before it got wiped out in a matter of seconds because of a news spike for +2 pips at breakeven. Fearing for the worse, I changed by short at 1.3913 to a rocket trade. The price almost went through the entire supply zone before bouncing out for +50 pips again. Gaaaa this is really bad luck. My last nights 2 (well)planned trades are now left in ruins.
http://www.zerohedge.com/news/here-what-just-happaned
Basically, a couple of bankrupt banks in Europe and US had came together and announced to the world that they had came into an agreement to lend money to each other in US dollars.Yes, the situation is so desperate that a mere agreement to lend each other money can send prices moving.15/9/11 2240 Hours :
Bernake : I have some freshly printed $$$
US banks : We will borrow that money at 0% interest
Bernake : Euro banks do come and join us!
Euro banks : Weeeeee !!!
Result = 140 pip move in 20 mins @ EUR/USD ... and a very unhappy me.
Ok, time to stop grumbling and instead, it is time to plan new trades. From the price action, the demand at 1.382-1.384 is exhausted and likely to have changed in a weak demand zone. The sell orders are probably exhausted there. Looking for a bounce off 1.392-1.395 for another sell.15/9/11 2340 Hours :
Meanwhile I closed my rocket trade for +62 pips. Sigh. Dude, on hindsight (not a good idea), plan the trade, trade the plan and stick to it.
Entered a pending sell at 1.3925, SL 1.395, TP 1.377. Trinchet is going to talk at 2am. Every time he opens his mouth, Euro dived out of his mouth. Hopefully the Trinchet trade will work like a charm.
USD/CHF
16/9/11 0012 Hours :
This pair went from no-brainer to non-tradable. Hands off this pair for now.
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