As I suspected, a long was on the cards. Now I wait for PA to tell me when to exit:
http://img841.imageshack.us/img841/4441/chart2b.png
http://img841.imageshack.us/img841/4441/chart2b.png
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Disliked4Xstar
When you do the river trade and it breaks out of the box near the daily pivot ... do you still take it?Ignored
DislikedThat's a good question & I guess it depends on other circumstances .. if the break is a continuation or a reversal, also strength of move & breaking candle shape on 5 & 15 min. But certainly more caution is necessary, unless it is breaking away from the DP in which case there is more probability.
In this last case, I didn't take the trade since my bias is short, I preferred to wait until it 'topped out' around the 5470 area.
In retrospect, I could have played it both ways for more pips, so that means I need more practice.Ignored
DislikedBearish engulfing candle forming on the 60 min, if it finishes like that, will hold my short.
BTW, the first short I took earlier on (chart posted) was at 5442, 3 positions, collected 10 pips on 1 and stopped out at b/e on last 2.
Then missed a really good long opportunity because I kept looking for a new short setup. I still have to learn that when a trade ends, erase the mental slate of any bias as to direction & just let the chart speak.Ignored
DislikedHi James,
been flat since yesterday...equities indicate topping out after the knee-jerk rally...so it's gonna be an interesting session....
Cheers buddy!Ignored
Dislikednice follow-thru selloff in equities following the top at ny open...
all indexes experiencing a mini-collapse as we speak...Ignored
DislikedG2G
s/l to -9pips at 5408 (got 5412 as top of range) and got tp at 5470...
Lets see who wins, bulls or bears?
NAH... put s/l to be and up 20 pips... free trade so let's just see...
OFF TO EAT AGAINIgnored
DislikedAhh, but GM the "better" educated here today were adamant that equities and yields have nothing to do with currency prices.Ignored