I haven't got a clue!

EURUSD Current open loss $238.

Pivot now 2975. The 30-min RSI is oversold & the pair is approaching an horizontal support area, this might favour a limited recovery which might sort out one of my lots at 3049 for 10.

http://www.tradingcentral.com/chart/...0109171536.GIF

Well. well. I'm glad I have some rules! 2969 currently with an open loss of $333 and free margin of $183.

Account balance $909, free margin $316 and open loss $331.

Due out in less than 7 hours could make or break this account.

Trade Balance coming out of the U.S. Market tends to care a lot less about this report than it cares for the GBP Trade Balance. Last month we had a huge shock in the trade balance out of the U.S. It came out deviating by over 4 billion on the positive side.

This month, the expectation is that this report will come out at -60 billion or so. If it comes out at -62 billion or more negative, not only will it be 2 billion worse than consensus, but it would also register a gap from previous release by almost 4 billion, so it could help me.

If it comes out at -58 billion or less negative, I'll go short on EURUSD, since it would be even a more positive reading than last month by almost a billion. My expectations are at least 30 pips on this report and as much as 80 pips or more best (or worst!) case scenario. Market sentiment will play a big role. Don't be surprised if the price goes back to the pre-release price shortly after the report, and then makes a huge move.

Free margin $467 and open loss $311.

I enjoy reading your journal, why oh why!

am rooting for you

Nice of you to say. Judging by the views I can see a number of members drop by once a day and have become regulars for as long as it can last. I hope to see you again soon.

Have a great day.

<table border="0" cellpadding="3" cellspacing="1"><tbody><tr align="left"><td colspan="14">Open Trades:</td></tr> <tr align="center" bgcolor="#c0c0c0"> <td>Ticket</td><td nowrap="nowrap">Open Time</td><td>Type</td><td>Lots</td><td>Item</td> <td>Price</td><td>S / L</td><td>T / P</td><td> </td> <td>Price</td><td>Commission</td><td>Taxes</td><td>Swap</td><td>Profit</td></tr> <tr align="right"><td>2061996277</td><td nowrap="nowrap">2007.01.05 12:03</td><td>buy</td><td style="">0.10</td><td>eurusd</td><td style="">1.3103</td><td style="">0.0000</td><td style="">1.3113</td><td class="msdate" nowrap="nowrap"> </td><td style="">1.2983</td><td style="">0.00</td><td style="">0.00</td><td style="">-2.08</td><td style="">-120.00</td></tr> <tr align="right" bgcolor="#e0e0e0"><td>2061996544</td><td nowrap="nowrap">2007.01.05 13:20</td><td>buy</td><td style="">0.10</td><td>eurusd</td><td style="">1.3094</td><td style="">0.0000</td><td style="">1.3104</td><td class="msdate" nowrap="nowrap"> </td><td style="">1.2983</td><td style="">0.00</td><td style="">0.00</td><td style="">-2.08</td><td style="">-111.00</td></tr> <tr align="right"><td>2062010272</td><td nowrap="nowrap">2007.01.09 10:19</td><td>buy</td><td style="">0.10</td><td>eurusd</td><td style="">1.3039</td><td style="">0.0000</td><td style="">1.3049</td><td class="msdate" nowrap="nowrap"> </td><td style="">1.2983</td><td style="">0.00</td><td style="">0.00</td><td style="">-0.71</td><td style="">-56.00</td></tr> <tr align="right" bgcolor="#e0e0e0"><td>2062016029</td><td nowrap="nowrap">2007.01.10 07:28</td><td>sell</td><td style="">0.10</td><td>eurusd</td><td style="">1.2969</td><td style="">0.0000</td><td style="">1.2959</td><td class="msdate" nowrap="nowrap"> </td><td style="">1.2985</td><td style="">0.00</td><td style="">0.00</td><td style="">0.00</td><td style="">-16.00</td></tr> <tr align="right"><td>2062016259</td><td nowrap="nowrap">2007.01.10 07:58</td><td>sell</td><td style="">0.10</td><td>eurusd</td><td style="">1.2983</td><td style="">0.0000</td><td style="">1.2973</td><td class="msdate" nowrap="nowrap"> </td><td style="">1.2985</td><td style="">0.00</td><td style="">0.00</td><td style="">0.00</td><td style="">-2.00</td></tr> <tr align="right"> <td colspan="10"> </td> <td style="">0.00</td> <td style="">0.00</td> <td style="">-4.87</td> <td style="">-305.00</td> </tr> <tr><td colspan="10"> </td><td colspan="2" align="right">Floating P/L:</td> <td colspan="2" title="Commission + Swap + Profit" style="" align="right">-309.87</td></tr></tbody></table>

<table border="0" cellpadding="3" cellspacing="1"> <tbody><tr align="left"><td colspan="14">Open Trades:
</td></tr> <tr align="center" bgcolor="#c0c0c0"> <td>Ticket</td><td nowrap="nowrap">Open Time</td><td>Type</td><td>Lots</td><td>Item</td> <td>Price</td><td>S / L</td><td>T / P</td><td> </td> <td>Price</td><td>Commission</td><td>Taxes</td><td>Swap</td><td>Profit</td></tr> <tr align="right"><td>2061996277</td><td nowrap="nowrap">2007.01.05 12:03</td><td>buy</td><td style="">0.10</td><td>eurusd</td><td style="">1.3103</td><td style="">0.0000</td><td style="">1.3113</td><td class="msdate" nowrap="nowrap"> </td><td style="">1.2997</td><td style="">0.00</td><td style="">0.00</td><td style="">-2.08</td><td style="">-106.00</td></tr> <tr align="right" bgcolor="#e0e0e0"><td>2061996544</td><td nowrap="nowrap">2007.01.05 13:20</td><td>buy</td><td style="">0.10</td><td>eurusd</td><td style="">1.3094</td><td style="">0.0000</td><td style="">1.3104</td><td class="msdate" nowrap="nowrap"> </td><td style="">1.2997</td><td style="">0.00</td><td style="">0.00</td><td style="">-2.08</td><td style="">-97.00</td></tr> <tr align="right"><td>2062010272</td><td nowrap="nowrap">2007.01.09 10:19</td><td>buy</td><td style="">0.10</td><td>eurusd</td><td style="">1.3039</td><td style="">0.0000</td><td style="">1.3049</td><td class="msdate" nowrap="nowrap"> </td><td style="">1.2997</td><td style="">0.00</td><td style="">0.00</td><td style="">-0.71</td><td style="">-42.00</td></tr> <tr align="right" bgcolor="#e0e0e0"><td>2062016029</td><td nowrap="nowrap">2007.01.10 07:28</td><td>sell</td><td style="">0.10</td><td>eurusd</td><td style="">1.2969</td><td style="">0.0000</td><td style="">1.2959</td><td class="msdate" nowrap="nowrap"> </td><td style="">1.2999</td><td style="">0.00</td><td style="">0.00</td><td style="">0.00</td><td style="">-30.00</td></tr> <tr align="right"><td>2062016259</td><td nowrap="nowrap">2007.01.10 07:58</td><td>sell</td><td style="">0.10</td><td>eurusd</td><td style="">1.2983</td><td style="">0.0000</td><td style="">1.2973</td><td class="msdate" nowrap="nowrap"> </td><td style="">1.2999</td><td style="">0.00</td><td style="">0.00</td><td style="">0.00</td><td style="">-16.00</td></tr> <tr align="right"> <td colspan="10"> </td> <td style="">0.00</td> <td style="">0.00</td> <td style="">-4.87</td> <td style="">-291.00</td> </tr> <tr><td colspan="10">Unlikely to trade further until something hits TP. The ideal would be a drop to 2959 and then a reversal upwards. Currently 2998.
</td><td colspan="2" align="right">Floating P/L:</td> <td colspan="2" title="Commission + Swap + Profit" style="" align="right">-295.87</td></tr></tbody> </table>

My bold.

I'm more concerned about my current shorts because, IMO, the longs will hit TP in the life of this account. However, currently, my shorts today if they don't close at TP within the next 1 hour 20 minutes may be left outstanding for some time. Currently, I've got 2 long open which are both losing over a 100 pips each. But I'm not gonna eat humble pie just yet.

I guess I haven't decided that I'm wrong yet jest1081 but thanks for your view. Much appreciated.

Asian trading saw sizable stops removed on the break below 2970 and 2953 However, the emergence of central bank bids and option related interest (linked to 2950 option barriers) helped trading bounce.

Yet selling into the rebound strength was always expected and the early European bull-run was soon overcome by the standing supply into the 1.30 level. Talk of official sellers from the 3005 level back to 10 has also dissuaded buyers into the North American open and the price is holding near 1.3.

Solid two-way continues but a break above 3010 now looks needed to instigate decent follow-through with stops then found en-route to 3020. Should 3010 remain intact then a return to the 2975/85 comfort area is likely. 13:30 GMT - in 35 minutes - is the release of the latest US Trade data (Nov), expected at a deficit of USD 59.9Bln, is widely expected to garner the direction for the pair for the latter part of the session. Elsewhere, the 1.2900 & 1.3000 strikes could also impact trading into the NY cut at 15:00 GMT.

IMO we will see a drop of about 30 pips which will sort out both my shorts at TP. Wishfull thinking? Maybe. But the greenback bulls are already shorting EURUSD. Some people may already now the numbers in the lockdown.

Let's hope there's some follow through. Spreads widened and both shorts still open.

One short hit TP for 10 pips. The other's at break even. Bit more follow through please forex Gods.

<table border="0" cellpadding="3" cellspacing="1"><tbody><tr align="left"><td colspan="14">Open Trades</td></tr> <tr align="center" bgcolor="#c0c0c0"> <td>Ticket</td><td nowrap="nowrap">Open Time</td><td>Type</td><td>Lots</td><td>Item</td> <td>Price</td><td>S / L</td><td>T / P</td><td> </td> <td>Price</td><td>Commission</td><td>Taxes</td><td>Swap</td><td>Profit</td></tr> <tr align="right"><td>2061996277</td><td nowrap="nowrap">2007.01.05 12:03</td><td>buy</td><td style="">0.10</td><td>eurusd</td><td style="">1.3103</td><td style="">0.0000</td><td style="">1.3113</td><td class="msdate" nowrap="nowrap"> </td><td style="">1.2974</td><td style="">0.00</td><td style="">0.00</td><td style="">-2.08</td><td style="">-129.00</td></tr> <tr align="right" bgcolor="#e0e0e0"><td>2061996544</td><td nowrap="nowrap">2007.01.05 13:20</td><td>buy</td><td style="">0.10</td><td>eurusd</td><td style="">1.3094</td><td style="">0.0000</td><td style="">1.3104</td><td class="msdate" nowrap="nowrap"> </td><td style="">1.2974</td><td style="">0.00</td><td style="">0.00</td><td style="">-2.08</td><td style="">-120.00</td></tr> <tr align="right"><td>2062010272</td><td nowrap="nowrap">2007.01.09 10:19</td><td>buy</td><td style="">0.10</td><td>eurusd</td><td style="">1.3039</td><td style="">0.0000</td><td style="">1.3049</td><td class="msdate" nowrap="nowrap"> </td><td style="">1.2974</td><td style="">0.00</td><td style="">0.00</td><td style="">-0.71</td><td style="">-65.00</td></tr> <tr align="right" bgcolor="#e0e0e0"><td>2062016029</td><td nowrap="nowrap">2007.01.10 07:28</td><td>sell</td><td style="">0.10</td><td>eurusd</td><td style="">1.2969</td><td style="">0.0000</td><td style="">1.2959</td><td class="msdate" nowrap="nowrap"> </td><td style="">1.2976</td><td style="">0.00</td><td style="">0.00</td><td style="">0.00</td><td style="">-7.00</td></tr> <tr align="right"> <td colspan="10"> </td> <td style="">0.00</td> <td style="">0.00</td> <td style="">-4.87</td> <td style="">-321.00</td> </tr> <tr><td colspan="10"> </td><td colspan="2" align="right">Floating P/L:</td> <td colspan="2" title="Commission + Swap + Profit" style="" align="right">-325.87</td></tr></tbody></table>

Anyone agree?

I only want another 16 pips and I'd be a lot happier.

Exited 2969 for 6 pips. A 12 pip drop got me out of trouble. Hmm... just looked - while typing it would have hit my TP for 10. Currently 2956. I guess what I posted above is working out. I was just happy to get out. I favour being long EURUSD. IMO we're right down at the bottom end of the range at the moment.