Chinocop's Forex Fiasco

Something that's giving me hope on this trade is that each successive bounce off of the trendline is less potent; however, since the doldrums of the trading day are approaching, I'm not too confident that my stop will hold.

Closed half of my position at 1.58312. Moved the stop to breakeven

Here's why I see 1.57588 as the next level of support. That's my take profit target as there's not much else in terms of major support until that level.

Got stopped out on G/U. Came within 22 pips of my tp. Waiting for the next opportunity. Looks like I might get another opportunity to go long.

Had my buy order set too low to catch the bottom on G/U. So I'm waiting patiently.

Damn, I placed a market order when I wanted a limit order. I need to double check my order again. Oh well, I'm in the trade right now. In at 1.57977 and looking for 1.57588. The reason I took the trade was because price was throwing pins at the lower boundary of a support shelf and also had hit a 50% retrace.

I didn't like the price I entered the trade. I have moved my stop to break even. If I get stopped out, at least I got a free trade. That's all I can ask for.

Ok, I got stopped out. Made enough money to buy 1 stick of gum.

Ok took another stab at a short on G/U. Price couldn't penetrate that shelf. Needs to break the 38.2 to hit my target between 1.57588 and 1.57332

Here are my thoughts on the possible intermediate direction for G/U

Ok, I got stopped out again. These are short term trades that if they happen to turn into 100 pips, I will gladly take them. It's frustrating, but I'm following my rules by moving my stop to break even after 20 pips. I didn't take half this time because it was a 1/2 of my normal position.

I'm hoping that I'm not creating too many superfluous posts but I'm liking the confluence on E/J

It would have been nice to have jumped on the retrace of the big dump of GBP this morning, but I didn't want to jump in front of the consumer confidence numbers. It was too risky. And as we saw, those numbers should have continued the trend but they did not. Why? Because today is a Federal Reserve POMO day. If you don't know what POMO is, read this: http://www.gainspainscapital.com/ (ignore the solicitation for the newsletter ).

In, moved the stop to break even and exited 1/3 of the position

Closed 1/5 of the position last night and added 1/5 back at 113.979

Hoping that this trendline breaks. If it breaks, I will add more to the position.

E/U Channel

Ok, I got stopped out. Overall did ok but could have done better. I should have cashed out but was too wedded to my position.

Here's the next trade I'm looking at. I'm going to wait for the break of the wedge to enter.

Ok, wedge broke on the 15 minute wasn't at home to take it. Hopefully, it will hit my target. There's a 38.2 Fib around that area so that makes a good place to look for longs to ride E/J back up.