I’m watching the N/U for a good short entry and if this hour’s candle (It is currently 3:17EST) closes below .7385 I’m going to put on my starter position.
PT will be 73.20, SL will be .7420
It’s kind of late in the day to be putting on trades (at least for me) but the Kiwi can pick up momentum in the Asian session…so we’ll see.
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Trif,
Looks good… a nice short Boss on the 15.
Could “Blend” in the 30 min as well.
Chris
Wasn’t much of a close, but I took it.
Hi, i am backtesting to learn to trade medium term ie to be in a trade for 2, 3 days or maybe even a week or two max, well am watching the G/U, but i think i might have over analysed the setup, hence i can’t quite make up my mind on what to do… here are my thoughts:
1. the major trend has been downwrd since Nov. 17/09
2. On 31/Dec, it made a higher high, but with a long wick after hitting 1.6229
3. On 1/Jan, it went a touch higher hitting 1.6238 but also leaving behind a long upper wick closing lower at 1.612
4. Now, since 8/Jan, the move has been upwrds
5. as i write it is now hitting 1.626 mark; my thinking is, due to the fact that these general area 1.62X ended up down after hitting these level, it migh als do the same thing today, hence my thinking that i should SHORT
My conclusion, i have not entered the trade yet, however, i think i will hold on for the price to close above 1.623X on the daily before i enter for a LONG for a TP at 1.64 first and then 1.65, otherwise if it closes below 1.23X on the daily chart, i’l just go SHORT with TP at 1.60 and 1.593
these are my thoughts.. what do you think????? am i over analysing things?