Ivan's Trade Thread, part II

Went short last night EUR/AUD at 1.9042, target 1.8785.
TP hit this morning for plus 257 pips. Had 2 false starts for the same play earlier, stops were too tight, and limit short/orders were too early, posted below.


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I have been riding down the EUR/AUD pair since about 2.06. I'm currently open with three positions in the 1.90 area. Justification for all the money I lost with the spike up into the 2.08 area in Oct-Nov.

I know it's your favorite :)

Very strong 1.87 support, though. We'll see if it can smack that. If it can, then see a return to 1.82.
 
Seems like it wants to drop. Another support around .8457, which are the lows from the end of October. 1.8200 was the approx point of the runup you spoke of. So, yeah, you make a good case. Do I smell a little revenge trading?:p

Daily chart with todays pivots..

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Yes, you smell it correctly. Nothing wrong with revenge trading if done right.

The Chinese say those who seek revenge should first dig two graves. But if the person seeking the revenge has already been killed, then there only remains the killing of the one who deserves it.
 
I thought the Chinese said: "WTF are we gonna do with all these Christmas decorations?"
Contemplating short entry, just not sure of stop position.
 
My thoughts are that January is typically a good month to go long USD/JPY. Going by past years. And the equity story is certainly helping.

Post your stop, please (or the viscinity).
 
Quote from SchraderTrader:

Apologies.

Original stop = 92.50
New stop = 93.75

I implement them manually.
More...

that's fine. Just so we understand your risk/reward fully. Good luck in your trade.
 
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