Just yesterday I wrote how markets never stop amazing me. More specifically, I was discussing the pair I had a trade in, GBP-AUD. The price action has slowed down considerably, so I was content to just wait patiently for my target of 2.0580 to come about and I wanted to not to enter in additional trade above that. I you recall it had been my very original plan. Here is what happened.

Very happilly I took my 100 pips profit, only to watch market rocket up in few hours additional 200 + pips. I’m not really kicking myself, I traded my plan and made good profit. I’m just pointing out how situation changes constantly and, very often, plans must have to be reevaluated.
O.K., after this dose on excitment, I think next trade will be more steady. I’m looking at AUD-NZD, and I want to go short.

I’m placing a sell order just under last low at 1.2755 and looking for about 80 pips. Should the price go up more, I’ll be moving the sell order to just under most recent low. Will check it later.

Mike K.