Wednesday, May 11, 2011
Super Quick Scalps - EURUSD
14:57hrs London time.
Phew...what a day.
Got stuck in the pre-release of the CAD and US trade balance numbers. EURUSD was in a very tight range. I stopped the trade both times when a big 4 pip M1 candle appeared. Losses were about 10pips and 8 pips.
Got right back into it but with 1 mini-lot each time. After breaking even, EURUSD traded down to 1.4300. 2 quick scalps of 4pips each around the support 1.4300 number closed the gap. So I made my 10pips for the day. Bought against the trend of the day so had to get out really quickly. Hold on for 3 M1 candles. No more.
I wonder if I can do that regularly in congestion areas...50s and 00s. Something to think about.