Short Euro fx closed at 1.29740. I am long Euro fx here at 1.29740. Gain of between 67 and 70 pips per contract.
Closed at 1.9703 loss of 402 pips per contract.(pips are worth half of what euro fx pips are--so not quite as bad as it sounds).
3. The bulk of my trading is in the Euro fx. The other 4--Aussie, Canadian, Pound and Yen are just dabbles. I like the Euro fx because of the liquidity and the diversification over several countries.
Attached here is an hourly chart of the March euro fx contract. It shows a class A Bullish divergence with both the histogram and RSI. The same type of pattern is evident on shorter charts today as well, notably the 2 minute chart which I will post in a moment.
I've gotten away from a few things recently that are basic to successful trading. The daily trend in euro fx is down. Until that changes, the only signals I should be taking are sell signals. I am watching the charts for that now with the rise of the past minutes. The daily trend in the Pound was down, but is unclear at the moment even with the recent rise. I'll be waiting for that to clear up a bit before making any more trades. Canadian still in down mode. I should only be looking at sells Aussie --a bit unclear just now Yen--still down -- only look for sells right now I don't know why I have gotten away from the three screen type of trading, but it really is important even if I miss some trades.
Missed a nice run up in the Euro fx here today. Rules are rules though and I am glad to be back to them in full force. The predominant trend is down. I skip longs.