Magpie Trader
Wednesday, September 14, 2005
closed euro short
For Breakeven. The world has stopped.
Price is at the bottom of the major up trend line from the 5th july.
Directly opposite signals as the daily TL is saying up along with RSI divergence on the 4HR, but the EMAs all say down.
The Dec 04 - June 05 23% retrace fib is supplying both support and resistance on the lower TFs and having a short around there without much volatility made me get out. Looks like the US session is the next time some real movement could occur. I'll be proved wrong no doubt.
A long position is looking most likely with the major TL holding, but will wait for the retrace of a breakout or the test of S/R now before getting back in.
edit - long euro at 1.2280.
edit2 - as it was heading past bed time (got work to go to now...) left it with a TP of 1.2305 which was the M3 pivot, it was a conservative projection, but missing a TP by a couple of pips is most disheartening. Came down this morning and 25 pips in the pocket cheers.
+25
Price is at the bottom of the major up trend line from the 5th july.
Directly opposite signals as the daily TL is saying up along with RSI divergence on the 4HR, but the EMAs all say down.
The Dec 04 - June 05 23% retrace fib is supplying both support and resistance on the lower TFs and having a short around there without much volatility made me get out. Looks like the US session is the next time some real movement could occur. I'll be proved wrong no doubt.
A long position is looking most likely with the major TL holding, but will wait for the retrace of a breakout or the test of S/R now before getting back in.
edit - long euro at 1.2280.
edit2 - as it was heading past bed time (got work to go to now...) left it with a TP of 1.2305 which was the M3 pivot, it was a conservative projection, but missing a TP by a couple of pips is most disheartening. Came down this morning and 25 pips in the pocket cheers.
+25
// posted by Magpie @ 9:20 pm 
