Well, last night's action ripped through the entirety of my EUR/JPY and GBP/JPY short grids, and most of the EUR/USD and GBP/USD short grids. Both EUR/USD and GBP/USD have retraced somewhat, as have EUR/NZD and GBP/NZD (after setting up the short grid in GBP/NZD, I decided to set up one in EUR/NZD after the Kiwi fireworks had settled near the top of their trajectory). At any rate, it looks like (of all the grids that were set up), 56 grid levels in total were blown through for a total of 519 pips (a one day personal best for me):
I still have a few levels in place for EUR/USD and GBP/USD, as well as for GBP/NZD and that pesky EUR/CAD, should price ever hit my modest TP. Here's what I've got open now:
EUR/USD short at 1.33400 (grid trade): There is a 40 pip gap between current price and the entry price. I will fashion an entry order to sell the pair should price hit the current .764 Daily Fib Retracement Pivot Point. Should that execute, I will modify the TP to fit in with the remaining grid below and add grid levels if there is room between the new TP and the next level. Grid levels are currently set all the way down to 1.3300.
GBP/USD short at 1.68299 (grid trade): The position is doubled up, since two grid level sell orders executed before a grid level limit was reached (probably when it was ripping down). TP is altered for the two positions to a single TP at 1.68210. There is a 25 pip gap between current price and the entry price. I will fashion an entry order to sell the pair should price hit the current .764 Daily Fib Retracement Pivot Point. I have deleted the remainder of the grid, because there appears to be some hesitancy to move beyond 1.68200 for the time being.
EUR/NZD short at 1.57600 (grid trade): There is a 37 pip gap between current price and the entry price. However, due to yesterday's movement, I am going to leave the pair alone for now. There are no grid levels below; price blew through all my levels last night, and I am not going to add any here due to apparent resistance right where the open position limit is located.
GBP/NZD short at 1.98596 (grid trade). There is a 33 pip gap between current price and the entry price. However, due to yesterday's movement, I am going to leave the pair alone for now. Grid levels are currently set all the way down to 1.9800.
EUR/CAD short at 1.45690/TP 1.45610 (pivot point trade). I have fashioned an entry order to short the pair should price hit the .764, thus adding to the position. Should that execute, I will modify the TP to fit in with the remaining grid below and add grid levels if there is room between the new TP and the next level. Grid levels are currently set all the way down to 1.4450.
I am beginning to be interested in going USD/JPY long, but given today's impulsive price action, I will probably hold off on that for another day.
What is likely to be most interesting this evening is AUD employment data. If last night's Kiwi data is any indication, there will be fireworks with AUD crosses in a little less than three hours time. I usually stand aside from potentially market moving data events, but the aftereffects of the data could present opportunities for me to buy the pair at a better price ... .
I still have a few levels in place for EUR/USD and GBP/USD, as well as for GBP/NZD and that pesky EUR/CAD, should price ever hit my modest TP. Here's what I've got open now:
EUR/USD short at 1.33400 (grid trade): There is a 40 pip gap between current price and the entry price. I will fashion an entry order to sell the pair should price hit the current .764 Daily Fib Retracement Pivot Point. Should that execute, I will modify the TP to fit in with the remaining grid below and add grid levels if there is room between the new TP and the next level. Grid levels are currently set all the way down to 1.3300.
GBP/USD short at 1.68299 (grid trade): The position is doubled up, since two grid level sell orders executed before a grid level limit was reached (probably when it was ripping down). TP is altered for the two positions to a single TP at 1.68210. There is a 25 pip gap between current price and the entry price. I will fashion an entry order to sell the pair should price hit the current .764 Daily Fib Retracement Pivot Point. I have deleted the remainder of the grid, because there appears to be some hesitancy to move beyond 1.68200 for the time being.
EUR/NZD short at 1.57600 (grid trade): There is a 37 pip gap between current price and the entry price. However, due to yesterday's movement, I am going to leave the pair alone for now. There are no grid levels below; price blew through all my levels last night, and I am not going to add any here due to apparent resistance right where the open position limit is located.
GBP/NZD short at 1.98596 (grid trade). There is a 33 pip gap between current price and the entry price. However, due to yesterday's movement, I am going to leave the pair alone for now. Grid levels are currently set all the way down to 1.9800.
EUR/CAD short at 1.45690/TP 1.45610 (pivot point trade). I have fashioned an entry order to short the pair should price hit the .764, thus adding to the position. Should that execute, I will modify the TP to fit in with the remaining grid below and add grid levels if there is room between the new TP and the next level. Grid levels are currently set all the way down to 1.4450.
I am beginning to be interested in going USD/JPY long, but given today's impulsive price action, I will probably hold off on that for another day.
What is likely to be most interesting this evening is AUD employment data. If last night's Kiwi data is any indication, there will be fireworks with AUD crosses in a little less than three hours time. I usually stand aside from potentially market moving data events, but the aftereffects of the data could present opportunities for me to buy the pair at a better price ... .
Fireworks are fun ... as long as you don't blow your fingers off.