Wednesday, November 5, 2008

Was on the road and missed my EUR breakout...was hoping to see a retracement back up to 1.29 but it looks long gone right now. I'll keep tabs on it...

**Also, took a second EUR short earlier and closed it early for -7 points. It was a good entry but the pair still had a bit more retracement left in it and I didn't want to widen my stops.

E/U closed for +85 points, another trade in the works...


Another breakout forming...this one will be more critical and significant if it is to the downside as we'll be breaking the uptrend over the last few days.



I'm trying to hold onto this EUR/USD for further downside progress...we're +80 points right now. 1.29 should provide hard support as we meet the upward trendline. Break that and I should be good for 150-200 points, if not more. Otherwise, I expect a hard bounce in which I'll look to book 80-100points and look for a possible re-entry later.


E/U

I went short, long & am short again with one loss (-25), one win (+16) and an on-going win with my recent short from top of the downward trendline @ 1.3019...really trying to hold this for a break to new lows. +35 points right now on a 5k lot.

EUR/USD

Closed the first short down at +3 points in an effort to get a better entry. Price dropped pretty quickly after that and I'm now watching for a short op on the break of 1.30...

Short EUR/USD @ 1.3082

Looking to see some downward movement. Scaled in first with a 2k lot...will scale in another 1 or 2k if we continue a ways higher. Not looking for any sustained movement above 1.31 (1.315). This would be my cue to get out.

I think this could be good for 150-200 points, if not more.

NZD/USD reversed long stopped out...

....-25 points.