Hi all,
Back early for the review today as a busy weekend beckons. Updates for the three markets (last set out with chart in post# in brackets) are:
AUD/USD (post#33) : Current 7925. Has collapsed right through yesterday's lows, so tempted to look for a short now but it can wait until Monday when we can look for some sort of bounce to get involved.
EUR/USD (post#34): Current 12414. Has reversed yesterday's rally that tried to test previous highs at 12535. It sits mid-consolidation area and a further failed test of either end of the range now would get me involved.
USD/JPY (post#40) : Current 11039. The market has raced up sharply since the last update, breaking both sets of overhead resistance. Our potential short trade is now invalid and we pull the order. It is still a rally in a bigger downtrend so I am reluctant to chase it up so we watch and wait now. If it keeps running up we will join it long on a pause, if it collapses back we'll try to short again.
So,
CANCEL Order #4: Order to SELL £1/pt USD/JPY at 10920, contingent stop loss BUY order at 11020
Seeing it is Friday and my mainstream daytrading has had a pretty good week, I'm in a good enough mood to unleash another RANT on you all in the following post.
Have a good weekend all.
Account summary (closed trades): Balance £9,900 (-1.0%) No. Trades YTD 3
Back early for the review today as a busy weekend beckons. Updates for the three markets (last set out with chart in post# in brackets) are:
AUD/USD (post#33) : Current 7925. Has collapsed right through yesterday's lows, so tempted to look for a short now but it can wait until Monday when we can look for some sort of bounce to get involved.
EUR/USD (post#34): Current 12414. Has reversed yesterday's rally that tried to test previous highs at 12535. It sits mid-consolidation area and a further failed test of either end of the range now would get me involved.
USD/JPY (post#40) : Current 11039. The market has raced up sharply since the last update, breaking both sets of overhead resistance. Our potential short trade is now invalid and we pull the order. It is still a rally in a bigger downtrend so I am reluctant to chase it up so we watch and wait now. If it keeps running up we will join it long on a pause, if it collapses back we'll try to short again.
So,
CANCEL Order #4: Order to SELL £1/pt USD/JPY at 10920, contingent stop loss BUY order at 11020
Seeing it is Friday and my mainstream daytrading has had a pretty good week, I'm in a good enough mood to unleash another RANT on you all in the following post.
Have a good weekend all.
Account summary (closed trades): Balance £9,900 (-1.0%) No. Trades YTD 3