Hi N and everyone else,
N; thread post count vastly down today with your IT problems!
Slight choppy morning for G/U today to start off with, it had some faily wicked bars - a la ugly butty style! - and follows on from yesterday's session with indecision mixed in with volatility, so for me it was a case of widening my SLs by reducing the value per pop - ie making my lower stake per pip go further, very important in market conditions we are experiencing right now.
So, on with the show and first on the stage is....
G/U As mentioned above, reduced stake and wider SL used today. First trade entered short with sell stop order at 67217 (keyed off Frankie opening session low) and this was filled during 08:05 bar, held on during following retrace and pulled initial SL down to break even (net of spread) after 08:30 bar close and was stopped out by 08:45 bar's high for 0 pips - dead trade but didnt lose! Market bias was short so waited for price to come down again and set a sell stop at 62597 which got filled on 09:20 bar, had a hiccup on next bar, then moved down reluctantly and went up the wretched hill yet again to test my initial Sl with a MAE of some 17 pips before turning around in my favour and, at long last, going southwards. Followed price action after it had built up a head of steam with TS and decided to leave the show at 11:40 bar open after that strange sideways move - fairly decent 27 pips profit.
E/U Nice short trend and bias was obvious here for London open. Went short at 08:10 bar (previous bar had broken prior lowest low print) at 46008, realised after pressing sell button that near a dreaded zero level but market seemed to have good momentum and I only suffered a small MAE on opening bar. Price moved nicely down after pausing on that 08:15 bar and nobody "playing" seemed to give a whatsit about the zero level, got taken out with TS during the 09:05 bar for 32 pips profit. Second trade was a sell stop at 45544 which got filled during 09:25 bar, followed by yet another virtually non existent bar that had me flapping over where momentum had gone, then price punched downwards nicely, meandered a bit then a bit more and I jumped off on close of 10:30 bar for a measely 3 pips profit as that 45500 level looked like a firm holding area to me.
E/G First trade waited for the previous low area break and had sell stop of 89642 filled during 08:20 bar. Tracked price down with TS and got taken out during big 09:00 up bar for 16 pips profit. Couldnt find a decent (read sensible!) second re-entry point when price turned over again during 09:35 to 10:10 bars range, definitely didnt want to go long when price turned upwards towards midday as my reading for this pair was short bias, then ran out of time (for me and my morning session wise) but can see price now beginning to roll over again.
Rather a staggered morning for me but at least some revenge taken for past two sessions. For this afternoon when our cousins across the pond join in on the bun fight, I'll be watching E/U closely for any setups but will (at usual PM reduced stake) be looking for scalps in small bite sizes, using corrie plus my own stuff, unless market can shake itself out of this indecision phase and start giving some decent trend runs.
Trade well and regards,
Simon.
