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Just walked in the house, holy crap! Where's my reversal?LOL:confused: Grabbed 23

Yes and no. Yesterdays reversal did not appear. There seems to be a strong case for a reversal, but price dictates otherwise. In other words...WTF is going on?:confused:

Scalp bounce off resistance EUR/AUD, 37 pips http://i44.tinypic.com/mm7b6o.jpg[/IMG]

Killed the short limit order, never reached it. Daily pivot and trendline may come intoplay later today. Won't be back in until later this evening. Any takers?

I set a limit short at 2.0753, just short of s/r. We shall see.

That makes me want to go short:D No harm meant,

Took a scalp, 1/5 regular size. Good for 9 pips. Spreads are nearly double on Oanda at 15, won't try that again. http://i39.tinypic.com/212y1rm.jpg[/IMG]

Jim Rogers said he was selling USD a couple days ago. He'll buy back in soon enough. So much for the EUR/AUD reversal. 2nd resistance at approx 1.0762.

S/R line at approx 2.0505. Longer term charts show an overbought condition. I would agree. I bailed below the s/r line mentioned, 2.0474. Had a strong bounce on yesterdays support, which kept me in the trade, but I agree on the pullback thought. http://i40.tinypic.com/2dtrqkg.jpg[/IMG]

Good to see some trading. I was beginning to think this thread was abandoned, but my "ignore" list is pretty long also. Long EUR/AUD. Gigantic stop. At the current trend, I should be "back in black" sometime late Thursday:eek: !!! I'll post a screenshot when I pull the ripcord.

Yeah, so, I think Brett is gay. And I mean that in a good way. I'm not attracted to him, but if I WAS gay, I guess he could be pretty cute. As of 9:20 eastern, I'm about 30 pips in the hole on EUR/AUD, so I need a diversion. All in good fun, just lightening things a bit. :D

Couldn't find their office address either.:p

It's "noise" if price doesn't hit your stop, and you profit. It's a "spike" if your stop is taken out, you blame the broker and lose a couple $.:p

"Noise" is subjective. Some pairs have 50-100 pips as "noise". What's your comfort level?

Nice.

Maybe. I had s/r line at 1.9712, it had made several upward taps during a longer upward trend on this line. I caught one of the reversals, and put the TP at the mid-pivot, roughly. Looks like the upward trend started around 1:00 eastern, and climbed for 1 1/2 hours. I have not studied an NYSE...

London thru NY hours the spread is usually under 9. Remember, this pair eats 20 pips like nothing. Look at a current 5 min. chart. Since 3:30 eastern it's been in a 50 pip range. That's normal! Look back at some of Cabletraders logs. He scalps it sub-minute. Check my earlier chart. The pivots...

Real money.

One EUR/AUD . Plus 61 with a TP cover short. I wasn't here for the reversal but, any love is good love!:p http://i34.tinypic.com/2vb1xcm.jpg[/IMG]

The question about Brett was meant to be funny. It looked like the thread was going to take a turn for the worse. Clearly, there must be reasons for hedging. I would imagine every situation is different. Is it good money management, or is it lack of confidence in the initial trade? At some...