Red Lion on the hunt

another short implemented with a 19 pips stop at 3 lots = 0.51% risk, i will progressively scale if possible, euro closed with no follow through small correction is expected.

I believe we are going above 1.30's as there has been reports of big players scaling out of short positions and the market seems to be holding the well for now.

trading is like chess, not only do you have to be aware of the markets next probable move.

BUT most importantly you have to anticipate YOUR move.

here i had an opportunity to have 5 lots in with only 0.93% account risk but decided to move the stop to b/e got stopped out and re entered

which i ended up losing 1.5%

it is not the end of the world but, before making any moves one must anticipate if the position we have is desirable at the LEVEL.

to get stop out and re enter is the same as moving the stop loss up, we are increasing the risk.

before we act we need to ask ourselves if i get stopped would i like the position i have?

if yes leave it alone, patterns change and mutate but one must not lose our position.

hey red can u pm me about ur experience with gft?
if its okay of course
thanx

Where are you Red! .......... hope you didn't turn blue

Yeah Red, is all O.K? You haven't gone soft on the idea I hope?

i have been a bit busy and most of my posting has been either, through my i phone, my android, my ee pad, or my laptop or note book.


didn't think anyone would notice me gone lol

anyway, i have been trading through my various devises, i will definitely keep up with this threat.

right now i see the markets positive start, bond yields up.

but the euro going down to 1.3250,

as far as the USD goes i do not see any immediate clear direction looking at all majors as far as the international arena the Greek deal continues to be postponed, not clear....but i am betting it is in everyone's best interest to comply with the haircut and avoid default.

i would bet on continued upward move for now but i would not be holding positions for too long

a buy at 1.3250 and sell at 1.3280's continues to be a viable strategy

Now that is funny!

1.3250 seems to still be a good place for a long, and by logic 1.3288 should be surpassed today in order to continue upward.

even with the whole Greek can kicking and stalling the market is showing a tendency to want to go up.

however it could go either or, we can still revisit 1.3200 and not lose trajectory

yesterday's price action was very tight so today a big movement is bound to happen

bias long