DislikedI still remember my neophyte days spending all that time in front of charts scaled in minutes.....such a waste.Ignored
DislikedI'm still short this pair from 1.1716 and I have been trailing stops down as price keeps falling.
It's difficult to know where to target as profit taking areas in front of price (below) when price is making these historical lows so I'm just trailing stops above shorter term resistance areas carved out on the 4H chart.
However, I'm getting less and less comfortable about such wide stops even though this pair is a one direction trade. On the 4H charts the gaps between logical resistance areas for stop locations are in the order of 250 pips.
DislikedIf it helps the next step in my learning curve was adding on the pullbacks and building a bigger position..Ignored
DislikedYeah pyramiding is an interesting concept, definitely something I will look into when I get more comfortable with this longer term approach. I have mostly stayed away due to not being able to effectively impliment pyramiding due to my account size and risk profile i.e. a new position of say 20% original stake is below my 1k minimum lot size (depending on the stop loss location).
Worth a look at when my account grows. Thanks for your input.Ignored
DislikedAnyone else think that the debt deal will turn events around?
I have been watching the charts closely and the initial reaction was good for the US, but I think that was more of a news event type of reaction, and now that it's settled in everything will resume as it was.... down we go again ?
I'm waiting to see what NFP brings, but the Aussie is looking good for a chance to go long, despite what the news is saying.Ignored
Disliked.....but the Aussie is looking good for a chance to go long...Ignored
DislikedI agree, in fact I like the AUD/JPY at the moment. Has got me interested for a possible long for the following reasons:
2) 82 nice round number
3) Daily Pin formed
4) Previous Support
5) 50% Fib retracement
6) Good upside potential (up to 90)
Im looking for some 4H action to trigger a long, breakout of pin etc.Ignored
Tomorrow is Non-Farm Payroll Friday, and with all of the panic out there today it is probably wisest to stay out of the markets if you are not already in it.Ignored
DislikedAye. I'll be closing out my euro shorts here... while I still think we have a long way to go down, a bounce is probable here due to daily demand zone (although we slipped a bit under it).
I'm going to take tomorrow off and enjoy the Dublin Irish Festival. You going to visit at all Chris?Ignored