12:00 pm- First target hit. Closed 2 lots at 1.2086. Moved stop to 1.2072 and got stopped out on last lot. (8 pips x 2 lots) + (-6 pips x 1 lot)= +10 pips
11:20 am- I'm in again at 1.2078. S/L=1.2055. First Target=1.2085
9:55 am- Well, 15 mins later and I'm stopped out. Loss = 13 pips x 3 lots= -39 pips.
9:40 am- Long signal. Entered at 1.2068. Stop Loss at 1.2055. First Target at 1.2073. Notice point #4- I added this recently to my charts. It is a volatility measurement. Green means a pretty strong volatility. We'll see what happens.
9:00 am- Thanks to OKL for the heads up on TICS data coming out at 9am EST. I totally missed it. Sorry if that threw anyone off. It sure threw me off. Anyways, now I'm going to wait a few candles to let the dust settle, and then hopefully a good signal will come.
7:40 am- Analysis
The Eur is headed towards a major support line, not to mention Friday's low. If the price breaks both of these lines, I'd expect it to keep moving down the rest of the day. However, there is no big news coming out today, so I'm "expecting" it to either bounce of its major support or Friday's low. Will keep you posted if I have any trades. Good luck everyone.
3 comments:
My guess is the market waiting on Wednesday Greenspan's speech...
my 2 pips...
u're using a system based on 4 oscillators..that's a bit odd. what does the rsi tells you that the stoch or macd don't(for example)?
The MACD and Stoch are just added confirmation. Click the FX10 link under "trading system strategies" for more information on the system.
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