One get out near .9680 for a quick 40 pip trade or if it moves through .9670 hold on to it for a move down toward .9615-ish by sometime tonight or early morning tomorrow. It could happen quicker but it is hard to predict both price and time of day.In essence I am watching for the cross below the fib fan for a continuation and a move down to a collision of longer term trend lines and older fib fan lines as the next target. If it bounces here, I would consider an exit of the scalp trade.
Longer term traders following the previous posts, disregard this post. This is a scalp trade. Don't confuse the two.
7 comments:
Blake,
I received asking for comments on your blog. I enjoy reading it and do learn from it. My only issue is I never know when it will be updated so I visit the same information multiple times before seeing a new post. I will see if I can set an alert when you post new information so I can get it when it's fresh.
Omar
It is sometimes sporatic in posting but posting just to post isn't how I work nor how I trade. I wait for the trades and the thoughts to come before writing or trading. One thing you can do is select the RSS feed or Atom Feed updates, everytime I do an update, that icon should flash at you. If you are using Internet Explorer you can turn feeds on in your toolbar or type alt and J at the same time and it should show you which feeds you can subscribe to. One day I may have a reason to write everyday, until then however, this may need to be the solution. Thanks for your comments.
Is this a case of coincidence or a case of great minds think alike? Probably the former, but I'd like to think the latter. I sold the USD/CAD at exactly 0.9720, but that was many hours before I read your blog. However, I entered as a longer term, not as a scalping trade.
Great minds? Come on, FREAKISHLY BRILLIANT MINDS THINK A LIKE!
I could certainly justify an entry on a long term trade or even an add point to the previous trade here. Great job!
I like getting your longer term trades based on technical analysis, especially with ideas of where to place a stop, as that is where I tend to struggle. I really am trying to be a "the longer I trade, the longer I trade" trader. But I really like the short term trade you shared, even though I was unaware of its posting.
So, guess I just appreciate your sharing trade ideas with us in this type of detail.
OK, I think I figured it out. At least if you are using Fire Fox. When you click on the RSS icon in address bar, tell it to use live bookmarks, google toolbar, yahoo toolbar or some other "reader" and then it will either be bright or flash when there is a new post, otherwise it will be a muted color. You have to use a "reader" like the ones mentioned above for it to work. I would imagine it will work on IE as well if you are using google toolbar or some sort of add in like that.
I am glad you are liking the depth (sometimes lack of depth) in my trade detail. I will try and keep the detail going on whether long or short term trading.
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