EURGBP - Has she overcome the first hurdle?

Good evening ladies and gentlemen

I hope you all had a prosperous day in the market. Something happened today that in my very early days of trading used to be a real source of emotion. Now its more of an annoyance but not something that would work me up into a real frenzy as I know there will always be other opportunities. What had happened was that I went in short on a SM money set up at the start of play this morning on the Loonie. I made my first position, moved stops to entry and then got spiked out by 1 pip on my second position missing out on a possible 200 pips so far. I would still be in this trade!! From my analysis, I was pretty confident of being in for a windfall but such was the market movement that I missed out. The point I really want to stress is that I didn't jump back in the trade. I did not chase the trade which is one of the key rules in my TP. I have learnt to take this knock on the chin, get up, and wait for the next SM set up! In this example if I had jumped back in the risk would have been worth it! However bad habits and bad money management will eventually only bring failure!!

So lets have a look at our girl for the week and see if she has managed to break through the bottom trend line. If we remember from yesterday, price did manage to penetrate but was eventually pushed back through and was held for the rest of the day. Price did not seem to be interested in having another go at the trend line today up until after a key reversal time. Below, I have the 5 min chart. A confluence of a divergance, a 123886 and a candlestick reversal at a key S and R line proved to be the perfect catalyst for price to surge towards the trend line and for the moment has also pushed through!! Did she have a Redbull? Did she have some creatine? Who knows but it sure did the trick! The question is will the trend line now act as a R line to promote a further move south? MACD looks interesting on the daily! There is still a lot for price to do before any swing trades can be considered but for us Day Walkers opportunities always present themselves. A mechanical appraoch will bring rewards!!!!

It will be very interesting to see what has happened by the start of play tomorrow! Keep watching folks!!

Alright Rich!! Spot on maestro! Yes in deed the answer is Pedro from Napolean Dynamite. That film is too funny. It's one of those films where you think not much is going on but actually it's the complete opposite. You got to watch it. And the other quote that appears on tshirts is "Vote for Pedro!"

The answer to your riddle is coincidently a kind of synonym of the answer to my gap fill "The journey of a million miles begins with one_____!" Your is footprints! Right?

Once again another example of how great minds think a like!! Ha!

Till tomorrow folks

Abundance is your Birth Right

Zaheer Anwari