Thursday, April 2, 2009

Par

I was looking at my trading record and I have been shorting USD/JPY a lot recently. It was an easy trade, wait for it to get up into resistance, start rolling over, and get a quick drop.

Almost out of habit I went short last night around 98.60.

Then I zoomed out on the chart and studied the price action of the past month really closely.

After that I realized very quickly that I was on the wrong side of the trade. I reversed the trade and doubled it right before it took off. I took half off before the run to 100.


Autozone also had a really big drop today on high volume.