Tuesday, September 2, 2014
GOING H.A.M.
So tonight I loaded up on orders because I've been on the sideline waiting for a few pairs to decide what they ultimately want and it seems as if they've made they're decisions. I'm not going to tell just what orders I've sent because I feel like we still have a lot to do to turn this EURUSD long trade into some profits. So far I've been shorting the pops in the pair but in between my large Lon position I've been building since price was around 1.33. As of tonight the price is around 1.313 just 20 pips away from our 1.315 support price and well into the support zone which bottoms out at 1.31. These levels represent a 61.8% retracement level from the 2014 highs. I'm bullish on this pair but it'll take some time before the price can support higher offers. The lower bids are drying up and daily candles are becoming doji designs for the retail traders to try and figure out. For now I'm looking towards GBP, NZD, JPY and CAD for near term action with Canadian and Japanese monies capturing my preference for trading. Tomorrow iff one of my orders is taken, will I reveal all of the orders I placed today.
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