I should have been stopped out at 15 but I didn't have the stop in the system yet and I hesitated. Still long, moving stop up to 19 (spot) and looking for a target of 95.
I followed my own advice and went in a few times around 1.2715 for roughly 11 ticks. I don't have the courage to hold any longer, when stalling sets in. I did two small scalps going long earlier for 2x 2 ticks - I was fretted out by the lack of a clear signal for my trading. I think we can se 1.2740s-50s as a little resistance now - very short term. We're at 1.2730 now ... so I could have done a little better, but I like to take the profits anyhow. Good action calls for tick-chart with 15-min period. Remember: better safe than sorry. Trade carefully.
Hmmm, I think I called that range pretty good, although I didn't have the courage to get the full extension of it. We will probably get into choppiness now, but look for some better move towards the end - possibly 1.2700 toggling.
Going long on my demo spot FX at 1.2708. It will take a little time - but I'm looking for the next 1.2760-area. Stops around 1.2660. It's just a "lucky guess", though ... nothing very scientific.
After a couple of good trades at the top, I got grilled on the way down. Now. I'm long from the bottom but I don't think I'll keep it long.
Seems the big moves has fueled the story-makers out there and Thomson reports sighting dubious rumors about Washington releasing strategic reserve, important al-queda capture and imminent surprise-spring on Kerry campaign by the Bush camp. I am chuckling here ... Taking a look at the chart for the day - 5-min or 10-min, there is nothing alarming with this retracements for those who are bull. One has to consider the newsflow and possible market reactions to judge if a bigger slide down will occur. So far nothing indicates a big slide. Activity has slowed down a lot more now, so stay out of the slow trapping chops if you're looking to scalp easily.
Thomson got some creative story writers I agree with you about the pullback to 1.27--it's healthy pullback for the bulls.