The forex market has its own life and takes its own time.
- #544,543
- Sep 28, 2011 2:19am Sep 28, 2011 2:19am
- Joined Jul 2007 | Status: Trader | 17,796 Posts
COT: The precious data ignored
- #544,544
- Sep 28, 2011 2:22am Sep 28, 2011 2:22am
- | Joined Jan 2011 | Status: my blog www.ijhas.blogspot.com | 1,038 Posts
born to speculate
- #544,545
- Sep 28, 2011 2:25am Sep 28, 2011 2:25am
- Joined Jul 2007 | Status: Trader | 17,796 Posts
COT: The precious data ignored
- #544,549
- Sep 28, 2011 2:27am Sep 28, 2011 2:27am
- Joined Sep 2011 | Status: I make Rambo look like a boy scout. | 1,472 Posts
Morning
Limit order placed........ if she even makes it this high today. This is a live trade... chart pic is done on the demo.
Short @ 1.3647
SL @ 1.3673
TP @ 1.3410
Risk 26 pips
Reward 237 pips
Reward to risk ratio 9:1
Position size ajusted to match a maximum of 2% of the account balance risked on the trade.
Will bring SL to BE once reaching around 1.3570 which is 3:1
Reasons I have for entering this trade:
- I have no other open trades and all looks well according to my plan. Head's in the right place and "I feel good".... Mabey I should throw some James Brown on for some motivational music.
- Nice little supply area with quick run down around 2:1
- My failed entry attempt at 1.3671 here yesterday tells me there are still big orders here that didn't get filled, heck I didn't even get filled. Missed by 2.6 pips
- Futures are pointing to risk off this morning with indices, energy, metals, grain and risk currencies down and the US dollar, Yen and bonds higher suggesting money is looking for safety.
- CCI making lower highs as the bulls make higher highs is telling me the bulls are losing momentum.
- CCI will also likely be overbought once reaching here
- She will likely be riding the top of or outside the upper deviation line of the Bollenger bands when she come back here.
- There's a very good chance some talking head will say something stupid and the markets will use it as an excuse to dump risk again.
- looks like she's trying to make a parabolic move to me now as I type this, hope the brakes are working on the bus LOL
Limit order placed........ if she even makes it this high today. This is a live trade... chart pic is done on the demo.
Short @ 1.3647
SL @ 1.3673
TP @ 1.3410
Risk 26 pips
Reward 237 pips
Reward to risk ratio 9:1
Position size ajusted to match a maximum of 2% of the account balance risked on the trade.
Will bring SL to BE once reaching around 1.3570 which is 3:1
Reasons I have for entering this trade:
- I have no other open trades and all looks well according to my plan. Head's in the right place and "I feel good".... Mabey I should throw some James Brown on for some motivational music.
- Nice little supply area with quick run down around 2:1
- My failed entry attempt at 1.3671 here yesterday tells me there are still big orders here that didn't get filled, heck I didn't even get filled. Missed by 2.6 pips
- Futures are pointing to risk off this morning with indices, energy, metals, grain and risk currencies down and the US dollar, Yen and bonds higher suggesting money is looking for safety.
- CCI making lower highs as the bulls make higher highs is telling me the bulls are losing momentum.
- CCI will also likely be overbought once reaching here
- She will likely be riding the top of or outside the upper deviation line of the Bollenger bands when she come back here.
- There's a very good chance some talking head will say something stupid and the markets will use it as an excuse to dump risk again.
- looks like she's trying to make a parabolic move to me now as I type this, hope the brakes are working on the bus LOL
I don't care which way the market is going as long as it's going my way
- #544,550
- Sep 28, 2011 2:33am Sep 28, 2011 2:33am
- | Commercial User | Joined Feb 2011 | 2,208 Posts
Morning
Limit order placed........ if she even makes it this high today. This is a live trade... chart pic is done on the demo.
Short @ 1.3647
SL @ 1.3673
TP @ 1.3410
Risk 26 pips
Reward 237 pips
Reward to risk ratio 9:1
Position size ajusted to match a maximum of 2% of the account balance risked on the trade.
Will bring SL to BE once reaching around 1.3570 which is 3:1
Reasons I have for entering this trade:
- I have no other open trades and all looks well according to my plan. Head's in the right place and "I feel good".... Mabey...
Nice setup and explanation of entry.
Just one thing: market await the Finnish parliament vote on the amendment to the EFSF framework, which is up at 11:00 GMT. Widely expected to be carried/passe. If this happens euro will go up, so right now market is positiong itself for either more up or in case of failure - sharp down movement. Let's see if FA will help you with that short selling trade.
Well done I guess, I like it.
Seb
- #544,551
- Sep 28, 2011 2:33am Sep 28, 2011 2:33am
- Joined Mar 2008 | Status: Name real with real own way | 23,415 Posts
Not understand?better not follow my analyses!doubt clearer first, risks ++
- #544,553
- Sep 28, 2011 2:46am Sep 28, 2011 2:46am
- Joined Jul 2007 | Status: Trader | 17,796 Posts
COT: The precious data ignored
- #544,554
- Sep 28, 2011 2:48am Sep 28, 2011 2:48am
- Joined Sep 2011 | Status: I make Rambo look like a boy scout. | 1,472 Posts
Hi,
Nice setup and explanation of entry.
Just one thing: market await the Finnish parliament vote on the amendment to the EFSF framework, which is up at 11:00 GMT. Widely expected to be carried/passe. If this happens euro will go up, so right now market is positiong itself for either more up or in case of failure - sharp down movement. Let's see if FA will help you with that short selling trade.
Well done I guess, I like it.
Seb
Finnish vote today and German tomorrow IIRC. What I see more often than not is markets rallying on hope and speculation and then dumping as soon as the actual results come in.
If she blows through the stop, oh well, sit back, relax and look for another opportunity. This is the only job I've ever had where I could make money being wrong most of the time LOL.
Mike
I don't care which way the market is going as long as it's going my way
- #544,558
- Sep 28, 2011 2:59am Sep 28, 2011 2:59am
- Joined Jul 2007 | Status: Trader | 17,796 Posts
COT: The precious data ignored
