Fall in love with the process, and the outcome takes care of itself.
- #82,224
- Jul 9, 2014 9:08pm Jul 9, 2014 9:08pm
Ummm...right. More jobs, higher unemployment. Anyone else see something .... odd ..... here?...
Starting to sound like our American data
's ...
Had a sell order placed at 9437 thinking it looked like good supply from the NFP move last week. Couple that with the bearish engulfing on the weekly and I thought we might get that level touched on the news and the price would move away. Thought about the size of stop to set if I was wrong and it looked too big so I chickened out. Still not very confident on this S&D trading.
Well... turns out I was right about the move and provided my broker played nice, I could have set a pretty decent stop. Nice to be right and all but geez... second 50 pip trade missed this week from being too conservative (I had a EU long stopped at BE the other night) and I wouldn't be surprised if this AU down leg has a lot more to go.
Still.... I look at my account balance and it still looks nice, as opposed to had I have been wrong and gone in on the news. And gotta say that 45 minutes after missing the boat, I'm kinda over the disappointment, whereas a lost trade sucks for a fair bit longer.
Now just wondering if we will come back to 9437 for a re-entry or whether I should just pack up for the week. The missus got herself a payrise this morning so I won't be hanging around the PC much for the next few days if you know what I'm sayin.
Well... turns out I was right about the move and provided my broker played nice, I could have set a pretty decent stop. Nice to be right and all but geez... second 50 pip trade missed this week from being too conservative (I had a EU long stopped at BE the other night) and I wouldn't be surprised if this AU down leg has a lot more to go.
Still.... I look at my account balance and it still looks nice, as opposed to had I have been wrong and gone in on the news. And gotta say that 45 minutes after missing the boat, I'm kinda over the disappointment, whereas a lost trade sucks for a fair bit longer.
Now just wondering if we will come back to 9437 for a re-entry or whether I should just pack up for the week. The missus got herself a payrise this morning so I won't be hanging around the PC much for the next few days if you know what I'm sayin.
- #82,229
- Jul 9, 2014 9:34pm Jul 9, 2014 9:34pm
- | Membership Revoked | Joined May 2013 | 7,946 Posts
ignore wackos and psychos, including myself. But I can't add myself to iggy
- #82,230
- Jul 9, 2014 9:35pm Jul 9, 2014 9:35pm
- Joined Aug 2011 | Status: Trader | 4,956 Posts
As the lights go by so too do the shadows move
Classic large news spike helped me finally ride E/A short to a small but tidy profit. Finally out after a week, at least I was getting interest paid on the short though. Now, back to the drawing board! Still waiting for E/Chf to recover to 1.2180s though...
{quote} There are always opportunities on corner.. What is your downward target?
If I'm going to mention any targets, I have to preface it all by saying I have just re-funded my second account after blowing my first one up a year or so ago. So take anything I say as the rantings of an amateur trying to find his way still.
The target that jsut appeared after the news is 9376. It is a 618 extension of the first post-news impulse we got. Also converges with the top of the consolidation zone on the 4H. Price left it about 48 hours ago and hasn't gone back yet
The longer term target is a convergence of the 318 extension of last week's candle and some demand on June 5th. The daily chart shows price leaving the region and the hourly shows a pin, suggesting a fair bit of money entered at that time
- #82,234
- Jul 9, 2014 9:48pm Jul 9, 2014 9:48pm
- Joined Aug 2011 | Status: Trader | 4,956 Posts
As the lights go by so too do the shadows move
- #82,236
- Jul 9, 2014 10:05pm Jul 9, 2014 10:05pm
- Joined Oct 2011 | Status: quo | 4,193 Posts
As Above, So Below
- #82,237
- Jul 9, 2014 10:09pm Jul 9, 2014 10:09pm
- Joined Aug 2011 | Status: Trader | 4,956 Posts
23k is pretty far off from the actual numbers!
As the lights go by so too do the shadows move
