FXWave Old Dog Trading Journal

FXWave · Aug 20, 2010

below is an attachment of the chart that gave me an entry setup on recent post.

FXWave · Aug 20, 2010

Quote from FXWave:

"With commodities getting hit; the Auzzie is vulnerable even to the weak Euro. Our position size is half our average size on this trade as this is a trend reversal trade on a grand scale so we intend to add to position if conditions warrant. The pair is severely oversold and the technicals are showing multiple simultaneous extensions and thus is indicating that a rebound is in order. The Fibonacci's are also harmonizing on multiple timeframes so we look to take an early stab at a potentially massive rebound. We are still cautious and are not willing to risk too much as further testing of the low is always a possibility."

entry: 1.4282
stop: 1.4250
target: 1.4648
More...

stopped out for half position size so net loss 16 pips

current tally on all 4 trades: 175.15

FXWave · Sep 8, 2010

Been a while since last post....Not seeing currency markets too clearly.

The simplified Oil chart attached sums up my new developing perspective.

Hope to see some setups in the near term.

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FXWave Old Dog Trading Journal

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