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  • #1,581
  • May 19, 2010 3:51am May 19, 2010 3:51am
Quoting lovejoy80
Took full profit here...cant take partial profit otherwise would have liked to have closed 50% and moved SL to BE+10....end result +1.79R (1% @ risk)

PV style trade on UC.
Doh...once funds have transferred to my other brokers I'll be able to take partial profits again...look at it soar...high volatility this morning, not loolking to enter news trades unless something good crops up with this volatility...its great if you're in positons with the trend but not the best time to enter...A/CAD and U/CAD are my two active trades that have triggered.

I'm also watching gold and silver carefully, pin bar on gold hopefully and silver looks like breaking support.
  • #1,582
  • May 19, 2010 3:52am May 19, 2010 3:52am
Quoting ogeid
What is causing the big move on AUD ?
General sell of in risk and that normally means the higher interest yielding currencies and the commodity currencies like CAD and AUD get sold off quicker.
  • #1,583
  • May 19, 2010 3:54am May 19, 2010 3:54am
Looking for 8800 in ACAD as initial target
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  • #1,584
  • May 19, 2010 4:06am May 19, 2010 4:06am
Gold pin bar...1.5% at risk and also taken break of silver support with SL above previous bar high (taken this trade on a spreadbetting account I'm trying out) 1% risk.
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  • #1,585
  • May 19, 2010 4:10am May 19, 2010 4:10am
Gold has hit the first problem area @ 1211.50 but I'm willing to give it some room and aiming for a retest of support @ 1207
  • #1,586
  • May 19, 2010 4:19am May 19, 2010 4:19am
gonna give the 4HR BEOB on A/xxx, n/xxx and uj a miss and go for this oin instead...could have gone in at retest of the PPZ marked but would rather play safe at the moment and wait for the break...SL above PPZ and MA. 1.5% @ risk.
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  • #1,587
  • May 19, 2010 4:27am May 19, 2010 4:27am
Quoting lovejoy80
gonna give the 4HR BEOB on A/xxx, n/xxx and uj a miss and go for this oin instead...could have gone in at retest of the PPZ marked but would rather play safe at the moment and wait for the break...SL above PPZ and MA. 1.5% @ risk.
LJ, A PB with a lot of space and faraway TA. LOL

Just kidding you know how to handle it.

I am in Silver breakout trade. Expensive !!
  • #1,588
  • May 19, 2010 4:36am May 19, 2010 4:36am
Quoting ogeid
LJ, A PB with a lot of space and faraway TA. LOL

Just kidding you know how to handle it.

I am in Silver breakout trade. Expensive !!
Ha, yes we are in a range...but CHF is a save haven so I'm confident it will get to FTA and am looking for the second area ultimately. Looking back NZD/CHF would have been a better shout...BEOB and NZD will weaken faster than GBP will against CHF due to reasons I mentioned above.

Then again me and G/CHF really dont have good history!
  • #1,589
  • May 19, 2010 4:44am May 19, 2010 4:44am
Moved SL down on gold to just above PPZ...looking to give it room to try and break the support level below...thus added a pending short order if it does indeed break it.
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  • #1,590
  • May 19, 2010 5:02am May 19, 2010 5:02am
should have looked at silver chart in more detail...not liking the trouble areas below and its just hit 50% fib on 17-20 move...my first target is 18.40 area, then 18.00
  • #1,591
  • May 19, 2010 5:06am May 19, 2010 5:06am
Second gold order triggered ...1200 then 1192 are targets
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  • #1,592
  • May 19, 2010 5:15am May 19, 2010 5:15am
EU is not really moving, waiting for US session?
If it drops again than Silver and Gold will retrace.
  • #1,593
  • May 19, 2010 5:23am May 19, 2010 5:23am
Quoting ogeid
EU is not really moving, waiting for US session?
If it drops again than Silver and Gold will retrace.
Yeah EUR and GBP are relatively strong compared to the higher yielding currencies and commodiity currencies.

I've exited Silver trade for small profit...not comfortable with all that consolidaiton that existed previously whenn price was there...plsu want to concentrate on managing current trades.

Have to be careful with gold when equioties moving down as you can get a big move up suddenly on risk haven play...like yesterday we had a strong move up from 1212 to 1226 in one hour...I'm concious of this and am looking to take profit if we go above the 1207 PPZ area again or if we get to 1200. The bears defintel have control but you cant rule out some sudden bullish moves before new sellers come in.
  • #1,594
  • May 19, 2010 5:26am May 19, 2010 5:26am
Look @ E/A go...nearly 200 pips higher than where I took profit...had no real choice though if it had rebounced I would have been annoyed at not takinf profit...the ideal thing to do would have been to take 25-50% off the table...I'm really fond of taking partial profits as it overcomes the desire to bank some money whilst seeing if you can catch a runner and aslo overcomes the decision as to what to do if you get to a potential strong problem area...a nice solution is to bank some profits and let the rest play itself out (whilst moving SL to BE or above) etc.
  • #1,595
  • May 19, 2010 5:29am May 19, 2010 5:29am
Sl to BE+1 on A/CAD and U/CAD...TP on A/CAD is 0.8805 which is weekly PPZ...but I might see if it will run further depending on how we appraoch this areas.

U/CAD I'm watching to see if it can pop above 1.0500 - the previous bars are strong bull bars so it would take some really big selling volume to push it back down.
  • #1,596
  • May 19, 2010 5:34am May 19, 2010 5:34am
Ready to break
Attached Image
  • #1,597
  • May 19, 2010 5:39am May 19, 2010 5:39am
Quoting ogeid
Ready to break
A definite strong clear area...problem is we have divergence and its quite a wide area (the PPZ) so hard to pin point an entry if trying to play the break.
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  • #1,598
  • May 19, 2010 5:41am May 19, 2010 5:41am
Quoting lovejoy80
A definite strong clear area...problem is we have divergence and its quite a wide area (the PPZ) so hard to pin point an entry if trying to play the break.
A good sign though that a breaklower will occur is not getting a quick rejection back up...nearly all other times we've appraoched this area price has has quickly retraced back up...I doubt this time we'll have strong buying power in the current market to get a retrace back up...so I'd say this a higher chance of breaking than it has previously....if that all makes sense.
  • #1,599
  • May 19, 2010 5:46am May 19, 2010 5:46am
Glad I got out of Silver trade...have moved SL on both trades on gold to 1209.20

Would have liked to play this if it wasnt for the divergence...4HR BEOB off a daily and 4HR PPZ with the trend...isnt the best sized bar but if we didnt have the divergence I'd be in this...look at all that space!

Will watch to see if it retests the PPZ and might enter a short there with tight SL and see if we can explode down...if it approached this area near US open this might be ideal.
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  • #1,600
  • May 19, 2010 5:51am May 19, 2010 5:51am
Quoting lovejoy80
A definite strong clear area...problem is we have divergence and its quite a wide area (the PPZ) so hard to pin point an entry if trying to play the break.
Break and re-test would be best
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