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Old Jun 7th, 2011, 09:12 PM   #85
tradingjournals
 
 
Join Date: May 2010
Posts: 4,521
Quote:
Quote from tradingjournals:

e/u at 1.4695. I am trying short side using reduced reduced size.

Update: e/u at 1.4689. taking some profits to cover for cost of stops and make a small profit on remaining.
e/u at 1.4662. Getting out here, and will decide later after I watch how it handles 1.4660 and below if any. Otherwise, will reassess if it revisits the 1.47ish area.

+33pips.
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Old Jun 7th, 2011, 09:29 PM   #86
tradingjournals
 
 
Join Date: May 2010
Posts: 4,521
There are a number of people here who seem to like something they call price action. I never really understood what they exactly mean by price action, but it seems to me that they may refer to price revisiting previous price levels where buyers(sellers) may reside.

As an application to e/u this evening, I would think (if my understanding of price action philosophy is correct) that price action bulls may be looking at 1.4658 to 1.4648 area.
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Old Jun 8th, 2011, 11:28 AM   #87
tradingjournals
 
 
Join Date: May 2010
Posts: 4,521
Quote:
Quote from tradingjournals:

e/u at 1.4695. I am trying short side using reduced reduced size.
It was the top -1.5 pip.
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Old Jun 8th, 2011, 11:30 AM   #88
tradingjournals
 
 
Join Date: May 2010
Posts: 4,521
e/u at 1.4571. I am tempted to take a try on the long side, especially if it descends closer to 1.4560. Counter trend can be very difficult.
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Old Jun 8th, 2011, 12:02 PM   #89
tradingjournals
 
 
Join Date: May 2010
Posts: 4,521
Quote:
Quote from tradingjournals:

e/u at 1.4571. I am tempted to take a try on the long side, especially if it descends closer to 1.4560. Counter trend can be very difficult.
e/u at 1.4590. +19pips. I am taking profits.
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Old Jun 8th, 2011, 12:08 PM   #90
tradingjournals
 
 
Join Date: May 2010
Posts: 4,521
Net: +598pips
Cumulative gains: 621pips.
Cumulative losses: 23pips
Number of trades:21
Number of trades with gain:20
Number of trades with loss: 1
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