Fx futures Journal

It's not the end of the day yet, but if the chart would end up where it is right now, I would have to say that this is a shorting opportunity. (It certainly would be below the recent reaction low, but that's quite a ways off. I will short at end of day if this stays this way. It's not the absolute strongest shorting chance, but it's worth probing.
 

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As an aside, it looks to like we are on the verge of major moves beginning in almost every currency. My view is in favor of dollar strength against the majors. I may change my opinion, but that is my opinion for now.
 
There will be some bouncing of the Euro FX here most likely. I still look to enter short at day's end unless the bounce is such that I feel momentum down is lost.
 
I did not enter, but am watching the hourly chart very closely for a good short entry. The daily chart says sell and I will wait for a better entry than there is at the moment.
 
Quote from Buy1Sell2:

I did not enter, but am watching the hourly chart very closely for a good short entry. The daily chart says sell and I will wait for a better entry than there is at the moment.
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I went ahead and entered short at 1.2810 on the Euro FX. There may not be a better hourly entry. If there is, I will add to my position there. Stop is at 1.3026
 
Quote from Buy1Sell2:

I went ahead and entered short at 1.2810 on the Euro FX. There may not be a better hourly entry. If there is, I will add to my position there. Stop is at 1.3026
More...

What's your time horizon? Would you care to say a few words on how you determined your stop loss on this trade?

Thanks.
 
Quote from wwx:

What's your time horizon? Would you care to say a few words on how you determined your stop loss on this trade?

Thanks.
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Time horizon is until I get stopped out. This could be a day or several weeks or months. The stop is outside the recent high on the daily chart. If the market moves down, I then move the stop outside of new reaction highs. This type of stop placement keeps me in trades and usually turns into a trade that is 3 or 4 to 1 in terms of what the winning trade wins compared to what the losing trade loses. On the occasion when I catch a good trend, this becomes 7 or 8 to 1.
 
Quote from Buy1Sell2:

I went ahead and entered short at 1.2810 on the Euro FX. There may not be a better hourly entry. If there is, I will add to my position there. Stop is at 1.3026
More...

Well, my entry on the hourly chart was not any good, however on the daily chart, I believe it to be a good entry. I do however see the chart beginning to set up up here intraday for the better short entry where I can add positions perhaps.
 
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