2009/02/01

No trade today, have to wait in line to submit registration form for my son, and he is going to Kindergarden this September..

1: daily is way way way oversold.
2: hourly is bouncing back from the support 1.3850 level, now still below ema62 line, which is pushing the price down throughout this down trend.
3: 15 minutes is just turning higher and higher, wee can see 5 is above 13 and above ema62.

support 1.3850, 1.3875, 1.3890
resist: 1.3935, 1.3980

Idea1: Short at 1.3930 to 35 level, but short term trend is up, it's hard to fight with it, will see how it behave at that level.
Idea2: buying at support level, the problem is, enven though it's a oversolde market, the sideway consolidation isn't long enough.

I will be sideline and see if the price can get to 1.3935 and 1.3860 level.

choppy session, I'm -2 pips.

What happened was lots more than -2 pips. I was winning on the first trade and I took half at 1R, then didn't ove the stop to BE, so when I stopped out, I was BE (not with 1/2R profit), then the next trade was little tough, I was ready for about -20 to -30 lost if it break through, but it didn't so I was able to get back most of my losses, and I hang on with my winner for about 18 pips at one moment. And then I decided to let it run, move stop to BE as it's about 2x of the size. After that was stopped out, I end up with flat...

at night, there was AUD rate suprise, and I traded another EUR/USD pop.

What I can do better today:

take half of the position off at 1 R , or at least at ema62.