EUR/USD Short earlier today...

...took a short this morning at 1.395, playing the short term downtrend on the hourly and some horizontal resistance around 1.395. In and out for 30 points on a 1/2 size position.

I don't plan to be trading tonight or tomorrow. Ending balance at -8.2%.

Full account funded again, watching eur/usd...

...For longs around 1.374-1.3710, previous resistance and the 50percent fib of the recent move up from 1.29 to 1.40.
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Re: Wednesday's 1.385-1.39 EUR/USD watch...

...we had a spike up to 1.384, 10 pips from my watch zone, which then dumped down to 1.373. I took no action and the pair quickly continued upwards.

Thursday evening/Friday, I was watching 1.3965-1.40 for EUR/USD shorts. We saw price come up to 1.396 before turning downward for 60 points and then full speed ahead to make new highs. Again, no action on my part.

With the range of the last few months now broken, it's important to keep in mind what sort of trading environment we're in. Now being out of the range, I'm needing to depend on support/resistance from months and months ago and it seems to be that it's less reliable.

More on this later, enjoy the long weekend US, cheers to everyone else abroad.

Watching EUR/USD for shorts @ 1.385 - 1.39

Previous points of support on the weekly & daily, should provide a good short setup and retracement from this morning's breakout.

The weekly below...




Daily below, showing a zoom in on a key area of previous support which I now look to provide resistance...



Unfortunately, I'll still be trading small as I've yet to receive full funding to my account and need to be careful of margin. This should be restored by 5/27/2009.

E/U was closed yesterday for +35points on 1/4 position.

I should have my full account funding back by tomorrow AM and will be back to 1/2 and full size trading without margin worries.

G/U @ 1.57 next on the watch list. Not sure yet on the E/U

Got in 1/4 position E/U @ 1.3435, will scale in as we get to 1.34.

Good Afternoon...

I'm hoping to see some gap action this afternoon.

EUR/USD is first on the block for S&R, looking to see price down to 1.34 range for a long.

GBP/USD watching 1.5075

G/U short hit T/P for +65 on half size position.

1/2 size short G/U @ 1.5235

Resistance + H&S

Closed usd/jpy long for 25 on 1/3 size
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Usd/jpy

I've began working myself into usd/jpy longs as we come down to .96 and .955 support
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EUR/USD and USD/JPY on the watchlist...

A couple of things that I'm watching on the EUR/USD & USD/JPY...



Either direction will work for me, with the trend would be nice but I feel the 1.374 level is a stronger level for a reaction.

USD/JPY below, a wider level of support but should be good for a bounce upwards...

No more trading this week and there will likely me no trading next week and I need to move some funds around. I should be back the following sunday/monday.

Ending balance @ -9.7perc.
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No trades today, watching EUR/USD @ 1.3225

USD/CAD stopped out for -30 on half position, EUR/USD on the watch list...

EUR/USD

I prefer the 1.36 figure for a short but also have my eye on the 1.35

Shot below shows what I'm going looking at. Should see some upward action come UK session in a few hours...

Back in usd/cad lon at 1.177 with 1/4 size, willing to let this one play out for a bounce. Will add up to 1/2 size if we can get price a little lower.
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Out of usd/cad for +7
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Longing usd/cad off 1.1765 weekly support line, pretty tight stop of 35 points, full size trade. I wint hesitate to renter if taken out by a spike and the trade looks okay.
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