I stayed with it and exited @204.12
- #1,002
- Apr 29, 2008 9:27am Apr 29, 2008 9:27am
- Joined Jan 2008 | Status: I'll Take Your Pips | 1,338 Posts
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DislikedLong GBP/USD 1.9689 area
Target 1.9750
Stoploss 1.9641
Pending Sell Limit GBP/JPY 205.25
Target Open for now
Stoploss 206.08
Ignored
DislikedOk Everyone, I could not resist
Short GBP/JPY 205.85 area
Target 203.85
Stoploss 207.20
Have a good day
Ignored
DislikedJust a reminder...
No Trades for right now....too many news releases will look towards the end of New York to enter a trade after the FOMC announcement.
As for ADP Non Farm Payrolll....I strongly feel that both of these are going to be bad for the dollar, not necessarily in what the actual figures are but more how the market reacts to it.
U/J is rising now to line up with the Major resistance area at 104.80 pre - news. If it breaks that level it will make way for a bullish trend short term. This isn't that likely as the 105.00 level was held by the 104.80 figure. Indicating the market did not want it near 105 to even be considered for breaking the number.
No trades for me today in regards to the news....but my biases are as follows for New York
GBP/USD buys - CORRECT
EUR/USD buys - CORRECT
USD/JPY sells -CORRECT
GBP/JPY sells - WRONG/CORRECT - It Bought first then sold offIgnored
DislikedPending Sell Limit GBP/USD 1.9920
Target 1.9720
Stoploss 2.0009
Setting a pending order because I want possible draw down to be kept small.
Should have no problem hitting entry, but its possible for it to not.
Holiday today, so market may act strangelyIgnored