Hello everyone, I will be posting my weekly thread here just as I have been posting on moneytec, so you're welcome to participate, add coments, remarks, questions. Mainly both threads (here and there) will be the same, except for communication with you. I would like to get to know more traders. I have a bit of experience in forex (6 years), and am looking forward to discuss market with anyone who's interested. I'm usually previewing past week actions on market and afterwards posting commentary on coming week, updaing during the week all my observations and trades. I post my trades the moment I execute them, and mostly I warn ahead if I'm planing to enter the market. I'm not hyper-active trader: 10-14 trades a month, targets 100-300 pips, stops 50-100 pips, maybe little more, holding position for 1-10 days. I had 6 trades this month, 4 closed at breakeven (b/e), one -35 pips, and one +225 pips. All were posted live at moneytec as well as previous months' trades. So, after litle introduction, lets get to point. I will quote my previous week post about that week, compare how it was in light of what we really got, and add comments based on actual action we saw. Quote from last week: At the moment odds that we really got the bottom are really good, so those of you who prefer really aggressive trading, can buy euro as soon as there will be push close to recent lows (in case there will be such), with 10-20 stops below those very lows. As you know, I'm not aggressive trader, because aggressive trading means more exposure to riskâ¦so take in consideration itâs a bit risky trade, as another push may occur and lead to new lows before the final bottom will form (maybe another 100 pips) . I donât like talking about how low/high the market can push, and donât really care where these critical points occur â I care to go with the move which follows them. During the week euro was still definite sell, and I wanted to short it, but didnât see good risk: reward. So I passed. What can we expect? Thatâs in coming post. Quote from last week: Well, we did get a turnaround this week, but only after it went all the way down to 130.60, bouncing from there thanks to Japanese intervention on yen. The move continued afterwards, following the usdjpy pair till the end of the week. Conditions to sell didnât occur, so there was no sell. After the bounce back and the intervention, I had no interest in shorting here, so I didnât even look at it more than once in a while. (I meant 192.80âs when wrote 138 - counfused with euryen??? â tgt to be at least twice as big as stop) The highest we got here was 192, and that was on first day of trading. Afterwards it went all the way to 186sâ. (way far my target). But we got a bounce here as well, after the yen selling. Although cable cross didnât go up as well as euro cross did, and thatâs due to cable sell off. In brief, it could be a good trade in case it got to levels I was expectingâ¦its history now. Indeed, cable didnât even go a bit higher, and continued massive fall for first two days of the week. I tried to enter in the middle of the week (sold at 1.5946 - compare to 1.63+ I wanted to sell back then ), but after rapid move down next day (100 pip in my favor) it retraced to my entry point where I had a stop loss moved to. Therefore my trade was closed at b/e. Next day cable made another attempt to go lower, and even though it went to lower levels, nice buying tool it back to 1.59 level, and thatâs where we got the close point of the week. Now hereâs something to analyze: The sentiment was really bearish here, and the expectation was proven by market. 2 days in raw at the beginning of the week, we got very strong sell off, without looking back even not for one moment. Afterwards, we got consolidation for rest of the week, with almost same range of 1.5850-1.5980. The question is â whether this is just consolidation before the resumption of down move or is it âthe beginning of the endâ for down move. Well, as far as I see, the down move is pretty strong, and the fact on Friday we got new low and lower high makes it a good sing for looking to short position here. On the other hand, such a rapid fall during past two weeks we got needs at least a bit more retracement than we got. At least more consolidation â also can do. Also now we got levels, supported by strong uptrend line since Feb. 2002. This, and some more signals provided by my system are indicating â¦.well, now Iâm getting into coming week market commentary, so I will resume this thinking in my next post when talking about cable.