Posts Tagged trading blog
I was also watching the S&P as it was trading between a consolidation channel between 855 and 860. It could have been a long above the break of 860 which it did but I am so cautious and have been caught out by these sort of trades many times so I thought that perhaps I may enter on a pullback. The market looks like it is make a pullback now but the relative lack of strength when the price action went above 860 looked rather weak.. however, saying that now, it would probably shoot up...
I
April 28, 2009
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I saw an opportunity on the S&P, the price action had found a temporary base at just below 855 and the stochastics and MACD were indicating that a turn maybe on it's way. I am always a bit hesitant when trading the S&P as my stake size has a minimal size. However, when one sees an opportunity, a good trader needs to take it... so, being the best trader that I could be, I went for it and went long at 856 or nearabouts.
My two winning trades on GBPUSD and GBPJPY means that I had profit
April 27, 2009
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I went long the USDJPY at 9796 as it seemed to have moved beyond the short term negative bias. You can see the trendlines I have drawn in. However, the GBPJPY and EURJPY have really shot ahead.. I am just about 10 pips up but if I had made the trend with the GBPJPY or EURJPY, it would be up by 50 and 40 pips respectly. It means I chose the weakest of the Yen pairs but also the less volatile. The profit potential for the first leg up isn't great, just 25 pips at around 9822 but there you are..
April 23, 2009
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