FX Live Trades EUR/USD

[oiltanker]

Feel free to join in. live trades only.

I found it helpful to write them out on the ftse thread so i thought i might do it on the market i usually trade.

 

[oiltanker]

At the moment i have permission to go long [as long as 12684 holds] but need a retrace to get in. A 50% fib retrace of yesterdays swing would be 12794ish target.

also news at 9am might mean ranging till then and maybe till 10 am when there is more eur news?

 

[oiltanker]

a nice bounce off the 12700 would do

 

[oiltanker]

long 127005 stop 12684

 

[oiltanker]

first target would be previous swing high at 12733 but if it gets there i might hang out to 12750 or even the pivot at 12769 but news will probably scupper that. if this was after the news i'd be more confident.

 

[oiltanker]

it's now looking a bit mixed on the 30 m so might close out at b/e if it goes there. i would have preferred a 30m green candle.

 

[oiltanker]

there looks a confluence of resistance around the 12760 area -pivot, previous res, 50 round number.

stop b/e.

 

[oiltanker]

took 20pts. mainly because of news at 9am.

 

[oiltanker]

does anyone do the take half let the other half run trade?

 

[oiltanker]

i won't take a position till after 9am news. i'm a conservative trader and it can get low momentum whippy.

 

[oiltanker]

mmm it got to 12750 region. that's the trouble with reaching the previous swing high. do you bag the points or play double or nothing? it would be interesting to see any stats on the probability of a continuation.


i still have permission to go long if we get a good retrace. ideally to the 12725 area.

 

[oiltanker]

in answer to my own question according to page 17 of this book the probability is one of continuation until exhaustion is seen.

New Thinking in Technical Analysis ... - Google Book Search

 

[oiltanker]

that would be a tempting short off the 12750 but i have no permission to do it. so for me it would be gambling.:innocent:

looks like anyone who took that short with tight stops just got smoked.

 

[oiltanker]

we might get a bounce off the pivot -38.2 retrace [of yesterday move] -prev res level confluence.

i would need a 30min candle confirmation.

 

[oiltanker]

so far out of a 70pt move i only got 20. what a numbnuts.

the 50% retrace is 12794.

 

[oiltanker]

i have permission for a short but its not obvious yet.

 

[SSINGH]

i have permission for a short but its not obvious yet.

Oil Tanker ....who do you get permission from???

 

[oiltanker]

right as long as 12788 holds i can short on a retrace- if there is one.

 

[oiltanker]

Oil Tanker ....who do you get permission from???

the chart pattern

 

[SSINGH]

got it...thanks