Example: In a perfect world I will trade 20,000 euros and then take profit at +58 pips and then let the other one ride. Ofcourse the mkt does not allways move in the direction that you would like it to nor will it give you the pips that your looking for either. Once I'm in a trade I re-evaluate the situation to see if there is anything I might have missed and if so I will take whatever profit I can get and liquidate the entire position then look to get back in later.
Yes, But I did not post to brag...(can I send you money for the next heads up?) Michael B. P.S. Electric is patting himself on the back...for a trade well done...and basking in the glory...(I was already already watching on that spike down, then when you posted that info, that was iceing on the cake) P.S.S. Did that earlier spike down set off that program, or was that an Oanda bad print?
Good tip Neal. Right at the beginning of the last leg up! Too bad I was asleep. Are you in 100% in EurUsd now? Chinook
I'm glad you guys were able to capitalize on it. Yes, I am still 100% long in the EUR now. Thankfully, I've had a breather the last 2 days thus far. More weeks like last week and I'm going to age very quickly. I'm not sure what the impetus was in EUR/GBP, but I got a call from a few of my dealers at home to tell me about it so I thought I'd post if someone could benefit. I haven't been watching the market that closely since it's generally moving in my direction so I am unaware of any Oanda spike or EUR spike for that matter. Best guys..Neal.
I just read that soem UK eco numbers came out on the negative side. Maybe that prompted the GPB sell-off. EuroUSd looks strong here. I'm got in around 1.2005 but I'm not sure yet I'll hold it during the 10AM EST # releases. If there's a nice 10-20 point runup within the next 10 minutes I might unload it. ES, do you usually have open positions during potential spike times? Chinook I'm back to flat, I don't want to risk a negative spike here...
If this mkt is to continue this current retracement off of the 1.1968 support low it will face heavy resistance at 1.2300. I don't believe that it will continue on its present course though I believe that it will probably crash below 1.2000 on the next leg down into the low 1.1900 range. But hey what do I know?
EuroUsd is pulling back orderly. Waiting for a pullback around 1.2135 to get long. I'm expecting it to be a slowly uptrending day maybe upto 1.2180 ... Chinook
Wouldn't EUR need to get through 1.2200 to reverse the damage from last week? Above 1.2200, it's 1.2264, then 1.2315. Until the last of those numbers are taken out, I'm not convinced that the long-term trend remain intact to the upside. I think this bounce is going to end up being a test of the 1.2200 level, then a reversal and breakdown to complete a top, atleast an intermediate or short-term top. Maybe a decline to 1.1600 is an intermediate term decline within a longer-term uptrend? Who knows. But the short-term traders are making good money here, like trade-ya1. Great job EUR bulls!! PH