Subject: [Tsig] - Its boring - but...

Its Boring - but...

Well folks - I don't know about you but Im getting a little tired of these market conditions ... they are just plain weird. Although we have seen this fluttering price activity back and forth yoyo'ing around many times before. Its just tiresome sitting through it while its happening.

The first quarter of the year has been stop start with prices pushing back and forth not really making or loosing much new ground. Even considering range style trading is not too favourable either as for me te size of some of these consolidations just is not big enough to consider every time we see a defined consolidation.

Anyway - be patient folks - in 20+ years of trading - this is just a short 3 month blip of inactivity to be concerned about.

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EURUSD - In a range - waiting for a break
GBPUSD - In a range - waiting for a break

Is also taking EUR's title as being one of the messier charts to look at for the moment.
EURJPY - In a range - waiting for a break

Is moving into and out of ranges quite quickly
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GBPJPY - price moving - but check that scale - its not moving much and nothing to get excited about
Dow YM June 14 - Break out of consol. pattern
Looking for shorts below 16,300
Resume looking for longs above 16,350
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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