Cable – Bearish 1H trend, 5M trend is bouncing for last 1/2 hr. The 7am candle looks a little bullish. Entered market order at 7am because the market was trading at its high. Again trading on the FXCM platform – I have to remember to watch the stop loss setting – if entering 10 pip stop loss, then the platform makes it 10 pips plus the spread.
EU – Bearish 1H trend. 7am candle looks indecisive. 5M trend is down. Entering buy stop order and got filled with 0.2 pips slippage.
Yesterday’s result ended up with a winner on Cable and a loser on EU.
All of the equity markets declined following the FOMC meeting and commentary last night. Gold is still bottoming out – is it setting up for a fall through the support around $1,300?
Both pairs have been declining since the FOMC meeting last night.
In any case, discipline is still good – and I am finding that this exercise is helping me maintaining discipline in the STAM strategy.
7.30am GMT – done with discipline. Onto STAM now. Update: Both trades ended up as losers around 7.35am.