moved stop at 1.2445 and stopped out for a profit of 10 x 2pips = 20 pips. Long 1 position at 1.2488 stop 1.24 (will change it, depending on the action) target 1.258, will add more if it pulls back more. 42 trades, Profit: 1481 losses: 423 pips P/L: 1058 pips 27 winners, 15 losers. New challenge: +$100.
I am out! Very difficult to read where it wants to go! Too weak for a rally, too strong for a sell off! I am staying out until a good setup sets up!
Let's think a little out loud. 1- on a daily it made a higher high at 1.26 few days ago and broke an important level. The trend is not "very down", still not completely up, it needs to break 1.26 to be up. The way we came down from 1.26 is really strong, suggesting a stronger upward is needed to break it, which we don't have, so far! 2- on 4 hours, the trend is down, in order to turn up it needs FIRST to break 1.253, the way it came up from 1.236 is not convincing, but the way we starting to have the other wave from 1.2419 is very descent, suggesting it may go a little further up; it will very likely break 1.253. 3- The weekly is down, need to beak 1.26 to start anything meaningful to the upside Conclusion: We may break 1.253, but fail to break 1.26 and go back down; if that happens it will go down very hard. If we break 1,253, there will very likely be a descent pull back before we attempt to break 1.26; that pullback will tell a lot on the future direction. If the pullback is weak then we may break 1.26. If 1.26is broken, the daily will turn up and we will very likely go visit 1.28-29 in few weeks; I would highly doubt it will break 1.29; we will go down from there to break the 1.22-20 strong support area. Our action: Long here at 1.2475 target 1.2525 stop 1.2417. Prepare to short at 1.255 if it gets there. We will be playing 2 positions at a time. Suddenly I feel better, I have a plan!!! Good trading all.
We have this triangle and at some point it will break out either way. Just like it did in the end of October. Back then it went further down.This time it can be opposite. I'm not that good predicting anything. Just waiting for set up and acting. In a mean time scalping.
Stopped out on my longs for a loss of $320; then went short two positions at 1.2458 covered at 1.2422 for a profit of $360. Turning in circles! Long one position at 1.2404 will ad more if it gets down to 1.2380
Don;t worry, you are welcome to post, it is not garbage, even though I might get influenced, it would be my sole responsibility and fault. Please post anytime you like. It was and ugly day for me lost almost $1000 came back to $200 then gave another $300!