Opening positions

[Garvo]

07.12.10 06:00 central time usa
gbpjpy buy @130.00
eurcad sell @1.3421

what do you think.

 

[tomorton]

GBP/JPY - Can't see exactly what you're aiming to do. Price is midway between last high and last low so seems not a great entry point if range trading. The high and low are lower than previous high and low and price is in long-term downtrend, so long-term buy trade looks questionable.

EUR/CAD - Looks like it's found support around 1.32, then 1.334. What's your plan here?

I never look at fundamentals / economic news - is there something in the pipeline?

 

[Garvo]

It was a fast trade, i get in at 132,05 gpbpjpy and closed at 132.20 with a gain of 15 pips and eurcad only 4 pip gain, a bad business... But you have all the reason about your comentaries. Thanks tomorton. Wainting the sidney market to start again. just fast position. I´m going to wait your answer before open my position.

 

[tomorton]

For me, charts have to show three things before I will take the trade - where to open the position, where to get out with profit, where to get out with a loss. Unless both exits are visible, best to wait for a better picture. And at all times, the aim is to protect your capital, so it's good to hear you did not lose on your two trades last week, if the market will only give 4 pips, take the 4 pips.

 

[Garvo]

+Waiting eurusd at 1.3166 @buy, maybe in 3-4 hours... What do you think?

 

[tomorton]

I think the EUR/USD is going down and you better be quick and grab some profit if you buy.

 

[Garvo]

thanks man, 6 pip gain, and out, waiting a short formation.

a triple doji?? i mean in 15 minutes chart

 

[Garvo]

I saw very rookie, but still waiting the short entrance.