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| A flippin' & a floppin'
There is not too much different from yesterday & thus not a significant change in commentary. |
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| EURUSD - Short pending on a break out. |
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| GBPUSD - Short
Shorts are pushing slowly down but with no real conviction. Im not tempted to add in just yet and playing the cautious card. Lets see where this move takes us before starting to get clever with adding in. |
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| EURJPY - In a range - waiting for a break
Looking very much like its breaking through the boundary low we had marked off. As I type waiting for a pullback to enter below |
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GBPJPY - In a range - waiting for a break
Long entry set up voided and price is moving back into its previously established range. Waiting for a break out. |
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| Dow YM June 14 - Price is moving back to the rising channel break point again.
I still like shorts below 16,300 which is a discretionary decision outside of the normal strategy. Resuming looking longs above 16,350 |
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Trade Management
I split my trades into 3 units
- Unit 1 - Open - closed on a new opposing signal.
- Unit 2 - Closed at +40 *
- Unit 3 - Closed at +100 *
- Stop loss is initially -40 *
- When target 1 is met for +40 the remaining two units stop loss is moved to -20. This is a managed break even trade.
- When Target 2 is met for +100 the remaining units stop loss is moves to entry level. This is now a profitable trade.
- The last unit is closed when a new opposing signal is confirmed
* sizes might vary from market to market based on volatility - any variation will be mentioned on the specific notes |
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