+15 5:2 Y 2010-06-21

1: daily is down 3hourly up hourly flat 15minute down 5 down

2: News to come is: none

3: What's the main event just happened that move the market? Chinese revalue RMB, RM is now up 0.7%

4: What do you think the market will do today? It will drop below 1.2350 and test 1.2250 maybe soon (not today), mainly it goes down.

5: Were you right about the market? (After the trading session): I'm write about today's market, it bounced from 50 level because of a DIV setup on 10 seconds chart, and then toppped at 1.2395 level with a round top.  From FA side, China is not going to let RMB go up so quickly and there is only hope from US for that. From TA side, there is a DIV setup on hourly chart on eur/usd, it's also filling the gap for weekend jump. Market is also rally for a week now a pull back is due. My last wining trade wasn't a DIV, wasn't a classic ema62 play either. It's just a winner. also at the moment of the trade, I was down 20 pips, the worst I got stop out again with -30 total. And today is kind of trending day, not range trade for sure.

6: What's the trade?
A: short on ema62 down trending
Is it follow the rules? YES
How many pips it risk? 10+10+10+10
what's the daily limit and daily risk now? 60/ 40

update 9:30 AM I'm still hold half size at short 1.2390 level, will let it run, stop is at BE, overall today is -15 I think.... I can close now to get a BE day, but I want more, this is the time I need to milk it. At least to 1.2350 level, which is the day's low.

update 9:50 AM, I closed all at 1.2340 level, as I couldn't hold it any longer, want to realize the paper profit.