Wednesday, July 2, 2008
G/U limit cancelled
I'm looking to stay out of the fundies mess that will be coming tomorrow with the NFP.
More E/U short recap, limit long set on G/U
E/U short was closed early...we made higher highs overnight on the hourly & broke through my little short term resistance levels. We did dip a bit from there but did not visit yesterday's lows and then hopped up again to make new highs. I'm not a fan of this and will stay out for now. +12 pips is an easy ticket out.
Also, I forgot to mention that I set a limit long on the GBP/USD @ about 1.982 yesterday afternoon. We came down close a few hours ago, to the 1.985 support level and then bounced upwards. 1.985 looks to be sitting right about on the uptrend that is shown on the hourly, so it would have been a good time to go long for a quick play...but! I think I'll stick with 1.982 for now and may look to buy in again at a bit lower price. S/L right now is set about 1.974 I believe, a bit wider than I would like to have it but I think that price could swing a bit below the support (198ish) yet not exactly breakdown. T/P is set at 199.8. Risk/Reward @ 1:2, not counting any further staggered longs.
Good morning :)
Also, I forgot to mention that I set a limit long on the GBP/USD @ about 1.982 yesterday afternoon. We came down close a few hours ago, to the 1.985 support level and then bounced upwards. 1.985 looks to be sitting right about on the uptrend that is shown on the hourly, so it would have been a good time to go long for a quick play...but! I think I'll stick with 1.982 for now and may look to buy in again at a bit lower price. S/L right now is set about 1.974 I believe, a bit wider than I would like to have it but I think that price could swing a bit below the support (198ish) yet not exactly breakdown. T/P is set at 199.8. Risk/Reward @ 1:2, not counting any further staggered longs.
Good morning :)
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