Well, I'm probably the only person in the world with 3 Journals - is that even allowed??? This Journal will be where I consolidate my musings about... *ahem* ... trading EUR/USD. My wins, losses, views, ... frustrations. Delusions. Journal's open to all who trade EUR/USD to commit, question, post opinions (or lack thereof) etc. Currently, though I do have trades open (both long and short) I have not made a trade in EUR/USD for what seems like weeks - simply have not been able to find a decent set-up within a range suitable for my trading structure... As E/U hovers in between my acceptable trading bands. Maybe I'm going a little stir-crazy. Is anyone making consistent money trading E/U now without taking on exorbitant risk? I know I'm not. Anyone having a hard time finding entry signals? Long or Short?? fx current market 1.2260. price 10-years ago to date 1.2500. (source NetDania via FXCM)
my thought is, ( http://www.forbes.com/markets/feeds/afx/2005/08/25/afx2191437.html ) if oil goes to $75, the USD is gonna get hammered - look for EUR/USD to float past 1.2500. current market = 1.2300. Oil = "Oil prices near 68 usd a barrel in Asian trading" good luck euro bulls. (wait, what am I saying?? I'm short EUR/USD - wouldn'jah know -435 pips :eek: I might get killed on this trade)... then again I might not.
2:04AM lately I been thinking I am so out of touch with the market. especially as EUR/USD continues to bounce in between my TP lines - just under them - both long and short, like a blithering snail who drank too much at the corner bar. well, time for me to crash - I'm up 2 hours past my bedtime and time to part time trade (if you can make sense of that). *YAWN* anyway. goodnight. fx *skalpz prayz* "oh forex god, please make EUR/USD go up to 1.3500. I need to get a good short on. ahso."
well, looks like EUR/USD is giving up some steam. currently at 1.2519 with a red streak candle forming. right before the weekend I suspect not too many euro longs want to hold thru the holiday. plus, euro profit taking may kick in adding addition downward momentum on the price. looks like attention is focusing back on the value in the USD that rapidly lost over 3 cents in the last few days - buyers may be showing up. my TP is still set at 1.2200 even though this last two day spike in the rate has given me a few good opportunities to form a nice short as I traded contrary to the little over-reaction we've been experiencing. like taking candy from a baby. skz