Good entry! I went long at 1.2103 on the way down and got out at 1.2110 29 minutes later. Sorry to not post the entry but I wasn't taking my hand off the mouse. Time for me to take a break.
Stopped out of half of my long EUR position at 12112. Watched it go down to the lows while carrying 50% long EUR. Re-entered what I stopped out on @ 12108 on the way back up. Still down on the day, but feel more comfortable and different than yesterday.
My timeframe is intraday. My trades last from couple of minutes to couple of hours. I look at bonds, oil, GBPUSD, FX futures volume and market depth. I don't have an exact trigger. Sometimes I go for local double tops/bottoms and sometimes a trendline violation or confirmation. I don't use standard indicators. What about you? Chinook
trade-ya1, The day is still young. Now we got the 1.21 test out of the way. I'm long for now too. However, the bounce from 1.21 is kind of weak. We've seen about 75 pip range so far. Maybe 1.2130 will be the equilibrium level today. Chinook
I'm pretty much all technical analysis, but get my ideas on price action and look for indicator confirmation...I trade my long term chart ideas with short term entries and exits for greater risk control...I was just curious because you are always on both sides of the market it seems, keep up the good work. mike
I'm neutral now. I just didn't want to give back my profits. I try to keep my options open. I used to wait for big trend days and get chopped or give back nice profits. Now I try to milk $$$ from the chop too. It took me a while to get used to switching sides. The more flexible my head is more $$$ I make. I used to be quite stubborn about the direction of the market and paid a lot of tuition for it. This FX market has all kinds nice little fluctuations why not use it. This means I'll miss trends once in a while, that's OK. Chinook