Ok, popping off to bed now gang. Mrs HoG is at the hospital VERY early in the morning to see about getting the cast off so I’d better get some shut eye.
Did leave a sell in place EU @ 1-3135. Stop is in the obvious place so only 20 pips risked. Not set a target to be honest. I think we are boiling up for a move of some strength, hopefully to the down side, so leaving the target open for now.
Talk to y’all later.
HoG
EDIT: This may be a strange thing to say but I don’t think my order will get filled. I have a feeling 1-3130 may well be as high as Asia will go. Could be wrong of course. Hell it wouldn’t be the first time !!
That actually looks good real good. I just went back short on the AU since my swing trade from Monday got stopped at a decent 50 pips. Not looking for much on this on as I was hoping price would go a little higher but Price is consolidating. I just got stopped out almost in the same amount of time as it took me to hit reply lol. I forgot about the unemployment numbers were getting ready to drop. That would have explained a great many things. I think I just set a new record for the fastest 1% of my account ever spent. I think that trade lasted maybe 8 seconds max lol. Pretty impressive numbers to. On the bright side I guess price went a little higher like I was hoping for. Well I might look to short when the dust settles after that I think I am done for a while as my account is about to take a nice downdrade. I bought this house last year and everything was great. However I learned now why I got such a nice price on it. Last year shortly after moving in forest fires came real real close to my house. This year its now hitting high sun and heat just after the long droughts during the winter. Guess what another forest fire burning out of control. This time really really really close to my house. God bless these fire fighter out here them guys deserve every dime of there pay. I posted a picture of a pic from my back patio 301 Moved Permanently
I am done looks like I am the proud owner of a rental property. If you know someone looking hmmm cheap lol. I found a bigger and nicer place for less money so looks like my trading account is about to get hit for a down payment. Could be worse though I started this account with practically nothing a few years ago. Get a new house out of the deal and back to where I started. I can live with that.
Bobmaninc, I saw the pic from your patio, where are you located? I live in Connecticut and we’ve had some pretty big woods/forest fires in a few towns around the state, big fires in Conn really aren’t big compare to fires in real states! Good luck, with that…
I know and really need to take that advise. Its just that we are also at all time highs on the monthly with very little corrections. Not saying it will correct anytime soon. Long term bias for me will stay to the short side. However given unemployment rates out of of the home of the great barrier reef (One place to dive on my bucket list) and the strong growth over there I do think at least for the short term an upmove will be sustained. Correcting the recent dive. I think buying dips to the 1.05-1.07 areas are going to be more realistic. Also I must take into consideration the hit my account is about to take I think more short term objectives will be more sustaining with account equity. Although I have hit some of the biggest moves of my trading career shorting this pair. I think you are right my ship has sailed for the short term anyway. It has been one great start to 2012 though. Since my trade got stopped so fast and this fire I decided to sit out the rest of the week to avoid uneeded stress. I had talked to my mortgage company last week and I could be closed on my new property by the end of the week. I just talked to my broker and they just said I will not behaving to worry about funds they will send them in the morning and I will have them by Friday. So there a good shot I will be packing and moving this weekend and trading will have to take a back seat for now. Getting my family out of the line of fire is more important and we will see if this move will be sustained or not. Given we are due to correct and good unemployment numbers, yep I can see it happening
Well EU short was triggered during the night. Asian looks to have crept ever so slightly higher than Mystic HoG predicted for now. I thought 1-3130 would be the barrier, 1-3147 is the high so far.
So we’ll see how we go. Will need to keep an eye on it during the day though as I said no target in place.
I’m thinking though, anything in the region of 20,000 pips in profit I might just take, might move my stop to BE if we get to 15,000 LOL !!
EDIT: I really should learn to keep my mouth shut shouldn’t I ? No sooner have I wrote the above post and price heqads up to have a look at my stop. Better put the Ferrari on hold for another day.
Well as most of you would have noted, last night’s AU short was, well a train wreck would be putting it nicely!
Missed this post and had already gone to bed, noob mistake of me not checking any news releases before putting a trade on just to bare them in mind at least… But yeah SL was in place - never open a trade without one…
However… lol
I woke up around 5am, and decided to have a little look at how my trade was going, and when i saw my SL had been hit, decidided to stay awake - while still half asleep, and managed to put on 3 trades. Big mistake… Felt like a complete noob again, it was typical revenge/over trading and tbh this whole week has been pretty much a mess for me. I’ve ignored most the rules i said i wouldn’t break and my account as we speak is currently 4.9% down since Monday (not including my 3 open positions) So leaving them to run as they were, regardless of their outcome, im done for the week. Need to sit on my hands and get my head screwed back on and ready for a fresh week on Monday…
I guess in a way im glad im making these mistakes while im still on my demo, but i wonder if it would have been different had i been playing with real money…
Anyway, good luck to anyone trading today…
Will be following along on the sidelines til Monday now
Now just wondering if we are going to do the same as yesterday and bob up and down EU between 1-31 and 1-3150’s. Wouldn’t life just be fine if we knew that’s all price ever did?
EDIT: I’m now beginning to wonder if I am personally responsible for the movement in the EU. Everytime I post something price moves immediately in the opposite direction from what I said.
had been saying over the last couple of days that some-one had forgot to tell the Euro about all this bad news and half joked we would head to 1-32. I’m not for a second trying to make this sound like a “I told you so”, after all, I just got stopped out on a short ( did make it back on the drop back down though). But, I think if we finish the day above 1-3155 then we’re heading to 1-32, and from there I don’t see it stopping until at least 1-3240’s.
Hoping your right, I’ve got my TP at 1.3210. I got a crappy entry a few hours ago at 1.3150 and I’m slowly watching it come back up to my break even level.
I hesitate to say I think you’ll get there d-pip purely on my recent track record of opening my mouth only to watch the exact opposite thing happen.
I think in future before I post any thoughts, I might phone the FED first and ask if any of their members have any plans to open their mouths in public in the near future. I’m sure their targeting me personally :19:
Just added a SELL order at 1-3198 as I have just checked my charts and had a previous supply zone marked at this area. Also that is right on Daily R2, and price doesn’t normally like to wander too far up past R2 on most days.
If I can manage to wrestle the big PC from the clutches of my 7 year old I’ll add the chart witht he supply zone marked on it, whether it works out or not. I’m on my little netbook just now and adding charts from that is a hopeless task.
OK, bribed the little one with some chocolate. It was only a small bar so I don’t have long, so here goes.:
First up FXCM Dollar index chart. As you can see it is approaching a previous support level at the 9900 level indicated by the thick pink line.
Also price has moved beyond the R2 level where I think price tends to get a nosebleed and turn back.
Then we have the 1 hour. Last candle is showing a bit of hesitance right now, also approaching previous supply level ( yellow zone ) which sits right on R2.
So, if price does make it up there, I think we might fall back a little before any further up move. I’ve set my sell at 1-3198, stop at 1-3213 and my target back at 1-3170. We can only wait and see.
Hog,
EU might not make it to 1.3200. So far the daily high to low pip count is only around 85, maybe that’s all we’re going to get today. I pulled my SL to 1.3145. Might just let it play itself out and get some over due sleep.
As your charts show, we’re banging into some real S/L levels from mid March. And I hear there’s an important China GDP number coming out overnight. :44:
Hope you got your target d-pip. Just popped through the 1-32, and I had moved my entry to 1-3205 just minutes before it got filled so I’m in the game again for now. I’m thinking 1-3211 and 1-3235 ish are resistance levels, target is back down at your entry and daily S1 , 1-3150.
Sorry Sanj, just had a quick nap and noticed your post, my post above should answer your question from my point of view because of the correlation of the two pairs. Hope all goes well.
Ok, let me round this up for this evening with a confession. Didn’t let my EU short run, just cut it off for the best part of +20.
Reason for this, overall, is quite simple, to me at least. I started this week with an account balance of approx $62.35 ( if memory serves correctly ). The plus 20 from the EU short now puts me here:
Right off the top of my head that’s approx +11 or +12% for the week. Now you could argue that I should have held on and maybe moved the stop to BE and took what came.
However, I won’t be doing anymore trading tonight as I have a few things to do, also we’re now getting to that time of night where price stalls and tends to hang around for a couple of hours doing not much, PLUS the fact that tomorrow is Friday and I will be at work all day so nothing happening in the way of trading.
So all in all I thought it best just to take it all off the table, keep the % win for the week, start again on Monday.
Still think the 1-3240 area holds some resistance but unless price gets back up to around that area tomorrow, thus giving me the short entry, I’m done for the week. Still throw my 2 cents in on the thread tomorrow, but it will only be the wisdom of a spectator I think.
Good luck to all who are still on the battlefield for the rest of the week.
