Fx futures Journal

Quote from Buy1Sell2:

Longer term , I think Aussi is still bullish however a breach of Monday's low will create a shorting opportunity I believe. As far as Eur/AUD, I don't follow that one. Longer term I am also bullish on EUR/USD , however, again a breach of Monday's low would create a good shorting opportunity and perhaps a change in long term direction. As far as Head and Shoulders, I don't look at that as I feel that people can draw it and see it however they feel and it becomes very subjective. The same could be said for trendlines in my view. I prefer reaction lows/highs and mathematical indicators as I feel that they are much less subjective.
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Just thought you might want to have a look at the weekly chart of EUR/AUD, which also features consecutive short grails. What do you think?

http://www.elitetrader.com/vb/attachment.php?s=&postid=1300660
 
Quote from Buy1Sell2:

Looking at that chart, it just seems to be coiling. I don't like it for long or short right now, but if I had to hazard a guess, I would say long.
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OK, thanks. I personally think it to be a sell, with a common headfake.
 
Quote from Buy1Sell2:

Short March Yen Future here at .85470. Buy stop .85750.
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I didn't post in real time so I will accept the stop loss for he purpose of this journal. --(That isn't what happened--I got out at .8545, but the rules are real time posting).
 
Quote from Buy1Sell2:

Long here March Euro FX 1.32410 Sell Stop at 1.32090
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Stopped out. for 32 pip loss. I will look to initiate another long position with increased size at 1.32370 on a buy stop.
 
I am not in any currencies on a positional basis except the Euro FX right now. Again I wil look for a breach of the Monday 12/18 low as a getting out /reversing point.
 
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