I took out half of my position at 1.4180 (which is 75 pips of my full position), the rest is set to +50 at 1.4080. Still trageting 1.4350. Btw, I also but an order to sell @ 1.4370 with sl @ 1.4570, as to the profit I see 1.3970 again.
Trading EUR/USD & Majors, Longer Term
- #142
- Mar 4, 2009 11:16pm Mar 4, 2009 11:16pm
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
It seems dragon has again found the 141.7 level tough to break. It failed yesterday & we are still with no clear direction as to where this might go.
My daily cci had retreated from +100, that usually indicates bullish movement losing momentum. But it's not trading below 0.0, so I will not put my money on bears taking over just yet. Today should be an interesting, many bulls will lose their pants if it decides to turn the opposite direction. Careful holding on to those long positions, keep them tight.
I am personally still staying out & I will not make any attempt to trade this beast before tomorrow at the earliest. The reasons for me staying out is obvious, we are still in this wedge. No man's land for me. And news don't spook me out with the way I trade but with the ecb & boe announcing their rate decisions and unemployment claims data all coming out around the same time today, I have another very solid reason to stay out.
However, I wish anyone trading today the very best of luck. You'll need it.
My daily cci had retreated from +100, that usually indicates bullish movement losing momentum. But it's not trading below 0.0, so I will not put my money on bears taking over just yet. Today should be an interesting, many bulls will lose their pants if it decides to turn the opposite direction. Careful holding on to those long positions, keep them tight.
I am personally still staying out & I will not make any attempt to trade this beast before tomorrow at the earliest. The reasons for me staying out is obvious, we are still in this wedge. No man's land for me. And news don't spook me out with the way I trade but with the ecb & boe announcing their rate decisions and unemployment claims data all coming out around the same time today, I have another very solid reason to stay out.
However, I wish anyone trading today the very best of luck. You'll need it.
Thank You
- #143
- Mar 4, 2009 11:24pm Mar 4, 2009 11:24pm
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
Well I live a very charmed life 
Cable came 2 pips away from triggering all my stops but she decided to throw me a bone instead lol.
Okay, so the plan for me is still the same. I will let cable work for me, no reason for me to go long or close my remaining positions. As far as I'm concerned, that channel is still in play & the evening star formation is a good indication of sellers coming in.
Assuming I get stopped out today, I don't plan to take any position untill tomorrow, the same reason I have for dragon. For now, let's see how this play turns out.
Good luck.
Cable came 2 pips away from triggering all my stops but she decided to throw me a bone instead lol.Okay, so the plan for me is still the same. I will let cable work for me, no reason for me to go long or close my remaining positions. As far as I'm concerned, that channel is still in play & the evening star formation is a good indication of sellers coming in.
Assuming I get stopped out today, I don't plan to take any position untill tomorrow, the same reason I have for dragon. For now, let's see how this play turns out.
Good luck.
Thank You
- #144
- Mar 5, 2009 1:35am Mar 5, 2009 1:35am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
Gotta love seeing buyers getting rejected at the 141.7 level with dragon. You shall not pass! 
Let's see what happens next.
Let's see what happens next.
Thank You
- #145
- Mar 5, 2009 2:38am Mar 5, 2009 2:38am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
Thank You
- #148
- Mar 5, 2009 3:50am Mar 5, 2009 3:50am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
I am sooooooo tempted shorting the dragon. 
Got- to- get- these- voices- out- of- my- head
Got- to- get- these- voices- out- of- my- head
Thank You
- #152
- Mar 5, 2009 4:12am Mar 5, 2009 4:12am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
Thank You
- #159
- Mar 5, 2009 5:11am Mar 5, 2009 5:11am
- | Joined Oct 2008 | Status: Trader | 1,035 Posts
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