DislikedOriginally Posted by sonicdeejay http://www.forexfactory.com/images/buttons/viewpost.gif
SL too tight IMHO...Ignored
Originally Posted by traderathome http://www.forexfactory.com/images/buttons/viewpost.gif
Sonic, I was wondering about it being too close. However, the asian session is not noted for wide swings, is it? I mean, the few times there are wide swings, aren't they so wide that even liberal SLs fall victim?
Would you suggest above 1.0775? Or, just above the previous highest highs? What position area do you like?...[/quote]
AU:
With no response from Sonic, raised SL and went to bed. PA did nothing thru the London session. But, as Sonic has stated, Friday can be a SL hunting day. Look at the last few hours....Bear Channel....., as market forces still at work, move price higher and higher without opposition. The simultaneous declining volume is an indication that the move up is disingenuous, meaning the price increase is not a sign of buying interest, but rather pure price manipulation to get the price high, i.e., running stops, closing longs, acquiring shorts.....just the opposite of what people think when they see price rise.
Anyway, added to short EP2 short = 1.0758, which I consider a Sonic Scout. Not sure what I will do with SL over weekend....leave as-is, or remove it.
Edit: Add 2nd chart. Price has been worked up to next S&R area. EP3 short = 1.0778.[/quote]
AU:
12 pips profit on EP1 short = 1.0708, closed at 1.0692.
62 pips profit on EP2 short = 1.0758, closed at 1.0692.
82 pips profit on EP3 short = 1.0778, closed at 1.0692.
Tired of waiting for more.