Aox's 2010 Journal

The 21 MA channel has crossed over the bottom channel line so I feel more comfortable moveing my trade to break even. The MA is angled nicely betwee 4 and 5 o'clock.

A major move up might stop me out but for now I feel okay about this trade. I will monitor it from my pda throughout the day and will not hesitate to close it if things turn around. Trade up 40 pips

Price action moved up during the NY open all the way to retest the trend line break from early this morning. The trend line held and I placed two more shorts around that area. I then saw something I did not feel comfortable with and changed my strategy.

1st - exit 122721- 30 pips
2nd - exit 122703- 21 pips
3rd - exit 122715- 14 pips

I exited the short because of a oversold signal and went right into a long position. Specifics to follow. Can not describe in full my full motivation at this time. Up 27 pips so far

My long trade was good while it lasted and stopped me out at b/e. Price still did not make a new low for the day after it stopped me out but I decided not to stick around and wait until after the rate data.

Monthly chart- Doji right on top of the 200 EMA- Hey now!!!
Dojis on the 4 hr, 30 and 15 minute charts.

Twp short trades on the eur/$ entered at:
122721
122654

Exited at 122343
122323

70 pips

Currently in a long trade entered at 122269. tight mental stop right now but hofefuuly to break even by 2pm

Entered at 122269 and exited at 122193

Entered at 122467 and now ttrading at 122773. Price is at the 200 ema wich is horizontal at 3 o'colock. I may exit because the 6 ema is trading below my 21 ema and 12279 lies between weekly M2 AND PP. If price can stay above 12252 which is M2 I may hold for a try at weekly pivot at 12307. Up 36 pips

12307 (weekly pivot) target hit- 61 pips. Price has gone way past my target but I will refrain from chasing. I notice that price is held up at the 23% as resistance based on daily swing low of 118747 and hi of 124643.

The 38% level had been reached earlier this morning. On my 4 hour chart My 6 ema is still below the 21 ema and price trading above it. so I think some pull back might be in store so I will be patient and wait this out.

The pull back I had hoped for came sooner than expected to a zone that I felt good about as my chance to re-enter. Up until today this pair had been trading below the weekly pp thus given a bearish bias. However, my target is the 38% fib retracement of the weekly swing from 133889 down to 118740 at 125569 which meshes with weekly M4. I will adjust my stop to allow for more flexibility. Right know it is right below Weekly pp.

Currenlty up 19 pips

I had to drastically lower my expectations for this pair as regards to the target I set for myself. The level between the weekly PP and M3 had strong resistance that could clearly be seen on the chart I posted and actually did hold and turn at around 122.49. So I exited my trade at 123461 for 30 pips.

I just think that congestion zones around points of technical significance are really greats zones to trade from and that is what I had on the 5 minute chart right around the weekly pivot. I went short at 123132 and exited at 122812. I awoke at 5:10 est to find that price hit the M2 pivot as support and bounced. Once price closes above my 9 linear ma I closed the trade. 32 pips gain.

I also had a losing buy trade, Entered at 123359 and closed at 123292 for loss of 6 pips.

Note to Self: Its way too early. I thought I had made a mistake in indicating the price levels of my entry. I had to edit this nonsense post. sorry. Never mind. Goin back to bed.

Price below Weekly pivot
RSI below 50 price is at a meeting point with a horizontol 200 EmA channel.

I'm out of the eur/$ market until either a tl break down or a close above the wkly pp. I'm on a 30 min chart because it is already 7:16 est on Thursday and I'm looking at a 1 1/2 day week right now since I do not hold over the w/e

Sell 122868 Exit 123154 28 pip loss
Sell 123078 Exit 123143 6 pip loss
Buy 123296 Exit 123095 20 pip loss
Buy 123228 Exit 123096 13 pip loss

Tough NY trading seesion for me, but able to end on a good note.
Buy 123265 exit 123585 32 pip gain
Sell 123611 exit 123332 27 pip gain
Sell 123132 exit 122812 32 pip gain
Buy 123161 exit 123461 30 pip gain

I have no trades to post today, no TA to speak of and nothing in my mind except one of what I hope to be many proud and memorable moments to be given to me regardng my family. Today my little motivator, my inspiration and my whole world graduated from kindergarten and I just wanted to post my congatulations to her and just post how she sent me on a journey of discovery and new found purpose that only I know about. I'm sure that many of us have felt this urgency when they are told that they will become a new parent.

For me the realization was that at 36 I was now going to be partly responsible for a young life emotionlly and financially and for our future it woud be best to make my omni present dream of financial and professional independence a reality and no longer just a dream that was always the other guys reality.

I knew what Forex trading was to a small degree, never really commited to it, I mean I had a 9 to 5 already and they'd take care of me, right?. So Forex was never given its proper place on the front burner. Well, shortly after being given the greatest news ever, another life changing oppurtunity arose, a chance for advancement within the company I was with for 10 + years. Long story short, I was told by the same person that was building me up for the job just prior was now saying that "more education" was needed for the position, though I was already doing it to some extent just not cashing in on it or carring the title. That's okay. I got too damn comfortable, too complacent, and just plain lazy in regards to my Job. It sure as hell was not a profession and what hit me the worst was that I could easily be one pink slip away from being a new Father without a degree and out of work needing to start over and I take full responsibility, Did I have another 10 years or even the desire to work for them or someone else somewhere else. Hell no!

Instead of going to night school as was suggested I decided to do what I should have done a long time before. I fully researched Forex and found that the challenge and complexity of it really struck a note with me and I decided that if I did it correctly I may be able to make Forex my profession. and the dream of professional independence a reality. Starting in late 2003 shortly before our Daughter was born I began my present journey. I studied constantly. I mean out of a 24 hour day I studied forex 10 to 16 hours easy. I am deadly serious. Every waking moment. I studied at home, during my daily commute and yes at work too when I could. I dedicated myself to do what I needed done. I was and still remain a sponge for anything to do with TA and mental preperdness and remain as interested as I was 6 + years ago. In a way I did go back to shcool and at the end I remade myself. My emotions are at peace thanks to Forex, my patience, discipline, and focus are at levels never reached prior to forex training and subsequent live trading.

All of this I share with my Daughter, she lit a fire under Daddy that she may never be aware of. I was thinking to myslef while sitting watching the cap and gowned students in her classroom that in a way, after six and half years, I believe today was my graduation as well that point of completion. I'm fortunate to be trading live and blown accounts are a thing of the past as far as I'm concerned. This is in no way meant to be nothing more than what it is, an entry from another proud Father that trades Forex.

Thank you baby girl and congrats for what is just the beginning of your education. Advice from daddy "hope for the best, prepare for the worst".

No my quote- lol

Awesome! Thanks for sharing.

My little buddy & fishing partner graduated kindergarten about a month ago!

It's no secret that the markets leading up to the NFP and related reports have a Jekyl and Hyde personality. Volitility can be non exsistent and then BAMM. So I tend not to trade too much or at least maintain a more selective view of the trades I take. I took this 240 minute counter trend trade firstly because of the way it seemed to find support and at the same time create the 2nd low that's needed to create a lower trend line I may be looking at no more than a retracement move to a fib level. I'll be sure to reference more detailed charts in my update posting. The swing low was very attractive however and the fact it closed bullish is a very good sign for me. the inner channel band is more vertical than I would like for at this time.

We'll see what plays out.

Entered trade at 126573 Currently up 210 pips. S/L set at 128390.

Using a Parobolic stop as of right now. I'll hold firm until Euro opens. ZEW due and I'll need to protect profits.

Closed my position trade at 12905 for a profit of 247 pips.

Wow. nice run up for the Eur. Too early to tell if the last strong bull candle on the 4 hr will be a flag pole that holds some consolidation before a run up again. I don't know we'll see. I'll hope for a retest of the broken resis as support since the euro/$ is well above both the weekly and monthly pivots already. A retest as support would be a good chance to test the waters again. I will not chase after this wild train though. It's going to have to pull back a bit for me to jump on.