(binned per thread starter's request) For What It's Worth

By the way, for anyone following this thread, I am a strong believer in getting out of trades "too early". I am a big believer in taking profits.

Now looking at a counter-trend trade on the $/CAD, but waiting for it to develop. Would go long after another surge south and on a good break north with an initial target take profit price of 1.0850. The trade will take advantage of the possible upcoming move to square up at higher levels.

CAD hit the 0705 target and then some, but still thinking of a move north. Waiting on the CAD and watching my other pairs.

Taken a long position on the GBP/$ at 1.6847, now protecting the entry price before upcoming announcements.

Edit: Square at 1.6852

Now watching the GBP/$ for the next surge, which may be south if it decides to square the 1.6820 level, and then perhaps back to 1,6760. However, the trend is still up.

Long the E/J at 136.83, now protecting the entry price
Edit: Now protecting 136.93
Edit: Will take profit at 137.32, and have moved protection to 136.88. Need a break of 137.13 before 137.50 is in sight. If I get stopped out will stay on this for the opening to 137.50

Edit: 127.13 still containing the up move; protecting 136.93
Edit: 137.13 has been broken to 137.20 but must see a close above 13
Edit: Square at 136.06, and will wait to reload a long position if situation presents

Time to take a break. Have been in several trades and netted about 6% on my margin account so far today. The basic idea behind my trading strategy is to risk no more than 3% on each trade and try to hang in for twice that amount. I am usually careful on Monday's and like to get a positive start to the week. Back in about 20-30 minutes.

Just finished chart work and am in the $/Y at 94.92 and have been in for about 45 minutes now. Protecting entry price as I complete analysis. Back later.

OK, $/Y trade is now really moving, will set protection now at 94.62, and if stop is hit will look for quick re-entry.

Re-worked the $/Y trade again, and have taken 1/2 the trade off at 94.54. New stop is move back up to 94.87, and take profit on remaining is set for 93.97. This trade is now on automatic and I will not be actively managing it.

Quick post of the trade on the JPY this morning. Tried to enter at 94.95 but got in at 94.92, on the breakout. Original stop noted, and the limit was set based on previous supports (orange lines). BTW, this is a 10M chart.



In summary, entered at 94.92, took profit at 94.54 with 1/2 of my position, and letting the rest of the trade run with a stop at 94.87.

Just wanted to state for the record that this is just a trading journal for my trades and ideas. I post here just to share ideas with friends who are viewing this stuff, and welcome ideas and comments. I am not a mentor nor am I an advocate of anything related to forex methods or TA. Actually, this gives me something constructive to do while I am trading. Hope it is of some use to someone, but if it is not, at least it helps keep me focused. Good trading to anyone who happens to stop by.

Short the E/$ at 1.4380, with protection now at 1.4380, limit at 1.4350. Announcements in 22 minutes so covering this trade quickly. Would rather be flat at announcement time than in a trade with heavy exposure.
Edit: flat at 4380

Yen trade is still running with announcement in 19 minutes. Have moved stop to 94.82 from 94.87.

Sqaure on the $/Y trade at 94.73 - growing old waiting for this thing to move! LOL

Here is an example of the market squaring up, using the $/Y example from today. I traded it south, and later missed the trade back north. But, this kind of PA happens all the time and is very much worth trading, either both ways, or when ever you see it developing. The basic idea is that the market started a move south last night, and later today moved the price right back to where it started last night.

Will not be posting this morning as I am focused on trading only today. I am in the E/$ and the E/Y now, and looking for more. Good trading to everyone.

Well, I guess I will post this trade on the $/CAD. There are several good entry points, particularly the failure to O/C the .786 fib, and the break of the fib base at about 1.0734. My entry was at 1.0745, and I had a limit of the -.618 fib at 1.0704. CAD is currently retracing this move south and may offer another trade soon.

Thought I would document the follow-on trade to the first CAD trade posted above (post above is a 5 min chart, the following is a 10 min chart). Second entry was at 10:00 CDT, entering with a 30 pip stop and 30 pip limit. First trade clipped the -.618 fib, and the second trade was headed for the -.786 fib, possibly the -1.27 fib (which it did not/has not hit).

I've taken a long position on the $/Y at 95.26, and now protecting at that price. Limit is 95.56. Now back to chart work.
Edit: 95.47 may contain upside again, so am now square at 95.31.