I have no problems admitting that I got burnt during Monday’s trading as I’m sure many other traders did (even if they don’t admit to it). One of my trades was short AUD/USD from 0.9835 just under a what looked like a nice trendline & channel. But it was not to be. Now that it has stalled at parity I’m having another go on the short side from 0.9975 aiming for 200pips.
Another trade I had on was a short on the DAX from Friday’s NFP spike. I had identified a channel (black) and had the trade in my favour almost 100pts. What I didn’t see was another channel (orange) where price is at now. It was a break even trade. I’ll look to short again once the German market is open.
To be fair, the (orange) channel above was identified by fellow tweeter @RobTTTrade on the following chart BEFORE THE EVENT. Good stuff Rob.