No trades for now, and I quit watching market for today at all. As I posted earlier, if we are going down, I will be targeting 1.08's, so there will be room to enter short. At the moment I need down move to be confirmed, which I dont see. I would still short around 1 1130s, but stop should be around 1.1225, and thats 95 pips. And because I see no potential for down move (confirmed down move - the move is still down, but weakening), I cannot target lower than recent lows of 1 1065, and therefore target would be even less than stop (65 ). Reasons for staying away according to my system are clear, but I wish luck to all those trading. I will look at charts during or maybe after US session, so see you then. rezo
Possible trades today: short USDJPY targeting 116.90 stop of about 50-60 bp long USDCHF tgt 1 4430 stop about 100 pips short EURGBP tgt for half position 0 6875, second half will be leld for open target stop 40 pips short GBPUSD tgt 1.5650 stop 60-70 pips long USDCAD 1st targert is recent hight of 1 4180 and possibly position may be held for 1.45 stop 60-80 pips Of course EURUSD, EURJPY and AUDUSD are for short, but on first two my calculations show large stop which are not appropriate for current entry, and aussie looks like late to enter now, and I doubt today I see chance for it. I'm counting to get retracements on those currency pairs in order to enter. Of all those possible trades I mentioned, USDJPY looks like closest to be done, and except for that one, I will have to pick another two trades. Exact stop levels will be determined once trade is open. Good Trading.
Well, that was pretty agressive week, but unfortunatly I was only watching the whole action. No trades. Have great week end, Rezo.