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[wackypete2]

I'd like to take 1/2 right near the round number then reevaluate from there and see if it looks like it will go lower or if the support will hold.

Peter

 

[Lord Flasheart]

big targets for you Pete?

 

[wackypete2]

Larger targets, yes. But I may still exit early!

Peter

 

[wackypete2]

moving wildly...

 

[Lord Flasheart]

short eur/usd at 1.3031 sl 1.3055

1/2 0ff +11,rest stop at -10

 

[wackypete2]

stop to be ...looking for exit

 

[Lord Flasheart]

moving wildly...

thats why i took 1/2 off,any ideas why

 

[VielGeld]

moving wildly...

I was about to say! 😱

Must be what they call a "liquidity vacuum". Scary stuff!

 

[wackypete2]

exit 1/2 1.30161 +13.4

 

[wackypete2]

no idea why. i don;t see any news out

 

[wackypete2]

reuters news about greece..negative for euro

 

[Lord Flasheart]

going out for a while,free trade, target is at least +50 gl all,talk tomorrow

 

[wackypete2]

holding 2nd 1/2

 

[wackypete2]

going out for a while,free trade, target is at least +50 gl all,talk tomorrow

good nite. looks good so far!

 

[wackypete2]

move stop to 1.30195

 

[wackypete2]

2nd 1/2 stopped out +10

 

[wackypete2]

Moving stops tighter in this choppy market hasn't worked at all. I may go back to exiting the full position until market dynamics get better. As Flash has noted we don't get any runners without large retraces.

Peter

 

[wackypete2]

Let's take a look at what's shaping up in eurusd. 15m chart shown.

Support is holding just above the 1.3000 round number. It keeps getting hit though and like anything else that gets hit often it weakens each time (the buyers at that level eventually dry up). Also the more often it gets hit the more retail traders get on board with long positions and place stop losses just under the support. One scenario is that soon the support line will break. With no buyers left at that level and the large sell stops and stop losses below the support price will dive very quickly about 15-30 pips.

Trade:
Sell stop order @ 1.2995, stop loss @ 1.3007
Target 1.2980
1/2 stakes since this will be left open overnight

Let's see what happens!

 

[wackypete2]

Man, you Brits have it good. I think I'll start getting up at 3am everyday now just to catch the meaningful moves, lol.

Why can't US session move as much? *sigh* 🙁

We're on the wrong side of the globe for forex trading!

Peter

 

[barjon]

We're on the wrong side of the globe for forex trading!

Peter

wacky - been dealing with your reports - just back in