Towards the close of the US RTH, we are seeing repatriation, settlement effects again, and defensive trading. The good thing was that 136 EURJPY and 101 USDJPY were both passed - and this means there is an upside towards the Yen weakening some.
A little late to the party on EURUSD, long at 1.3497, I was slow on my entry, looking towards a resistance at/below approx 1.3530. Not entirely confident that it won't roll over, it keeps popping the 1.3485 level. I bailed at .3512, kept 15 pips It may have run out of steam for a bit.
May be another long entry around 1.3500? 8:40---15 and 30 min charts are ready to roll over. 8:47, long at 1.3490
Regrouped- Went short EUR/USD at 9:11 pm EST. Set stop 1.3500, moved it down to 1.3471 at 9:44 Target at 1.3405.
Trade below begun last night now is green. Outsized stops helped weather today, with my appreciation of price action in yen equities and crude all pretty much accurate (although I'd benefitted from that much more if I'd been more patient in entering). Like the position and direction more than I like the reward to risk, which isn't great.
Position is green and likely to finish today that way. Anyone following CAD have ideas on what to expect next week?
I think if equties can finally carve out a base, all USD pairs will see a significant correction - the CAD and AUD most of all.
Wrap it up. After some decent trades, and some genuine foolishness, I managed to finish up 96 pips on the week. Let's see, at 100 units, that's a solid $0.96 cents. Yep, cocaine and hookers for everyone!! Seriously though, I appreciate the feedback I got this week. This has to be one of the longest threads I have seen without some clown jumping in and calling everyone liars and scammers, etc. Have a good weekend. David