Call alerts set.
Monday, June 15, 2009
USD/CAD next on the chopping block...
...as posted yesterday, I'm keeping an eye on the USD/CAD around 1.147 for a short. The UK session is a couple of hours away and we'll see which direction USD wants to go. A continued rally could bring the USD/CAD short idea into range tonight.
Call alerts set.
Call alerts set.
EUR/USD, 1.34
Watching this level again. Could be several days or a couple of weeks off but I want to go ahead and post it up. Definitely one of those STRONG levels that I would like to get a full size trade wrapped up in.
Some morning action...
Played a small hourly downtrend on the GBP/USD this morning, right after US markets opened the doors. 1/2 size trade from 1.6385, closed a few minutes later for +30
Was then waiting for my GBP/USD levels to come about and the EUR/USD dumped down to 1.3815, just above the 1.38 level that I've had on my watch list for a good week or two now. After touching 1.3815, it bounced some 35-40 points upwards. This move SHOULD have negated any further 1.38 action but stubborn me, I went ahead and took a "bargain" long after it came back down to 1.3785. This was closed a few minutes later when we saw a pop up above 1.38 for 15 points on a half size position. My stops were placed 20 points below my entry and, before spread, I was at about 1:1 risk/reward...but nonetheless, this was a trade I should have stayed out of.
GBP/USD came down nicely and touched 1.6243, at which time I was preoccupied and wasn't around to take the trade. Disappointing...from top to bottom, it's run 60+ points and may continue higher, depending on oil, equities and other things I don't concern myself with.
I'm at +2% for the month, looking to hit my goal of +3%. One or two more quality trades and I'm there...need to remain patient and smart, keeping any euphoria in check.
USD/CAD is next on the chopping block if USD bulls can continue their move. 1.147 is what I'm watching for a short.
Was then waiting for my GBP/USD levels to come about and the EUR/USD dumped down to 1.3815, just above the 1.38 level that I've had on my watch list for a good week or two now. After touching 1.3815, it bounced some 35-40 points upwards. This move SHOULD have negated any further 1.38 action but stubborn me, I went ahead and took a "bargain" long after it came back down to 1.3785. This was closed a few minutes later when we saw a pop up above 1.38 for 15 points on a half size position. My stops were placed 20 points below my entry and, before spread, I was at about 1:1 risk/reward...but nonetheless, this was a trade I should have stayed out of.
GBP/USD came down nicely and touched 1.6243, at which time I was preoccupied and wasn't around to take the trade. Disappointing...from top to bottom, it's run 60+ points and may continue higher, depending on oil, equities and other things I don't concern myself with.
I'm at +2% for the month, looking to hit my goal of +3%. One or two more quality trades and I'm there...need to remain patient and smart, keeping any euphoria in check.
USD/CAD is next on the chopping block if USD bulls can continue their move. 1.147 is what I'm watching for a short.
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