A Recovery Act

As the dollar advanced this morning on speculation that Fed will highlight inflation risk, I took the chance to exit the remaining two positions from last week. I managed to book some small profits with exits at 1.2621 for +38 pips and 1.8755 for +14 pips. Considering their earlier drawdown, I was satisfied enough just to register a positive start to the week. But, looking at their current prices right now, I am second-guessing my previous actions. I am sometimes amazed/puzzled by the quick turnaround in the market sentiment and the magnitude of the corresponding retracement/correction.

In this scenario, I was in the market at the right time; but I didn't have the right mindset to excel in this trending market condition. I closed this trade (short GBP/USD) too early by not following the exit rules as I feared to lose back the hard-earned profit. On the long USD/CHF position, I didn't reenter the market as I was being conservative on the Monday morning.