OK its Friday. Its a beautiful day. I worked from 9:06 until 09:31. It was a grueling day at the office so now I will go away and wish I had stayed in. Sometimes the market makes no sense to me. I am so glad I don't trade on fundamentals because I ...

Ramblings of a Forex Junkie

Its 3092 on my feed. Close enough. The fifty of the move was 3085 I split the difference and took 30875.

Ramblings of a Forex Junkie

US numbers and ECB rate cut should equal a down move unless we are back to risk on/risk off with the euro. Luckily I am well aware that should and trading do not mix and I almost never use the two words in a sentence together.

Ramblings of a Forex Junkie

It was the area of the previous month high and the fifty retrace of the move down. If it was going to turn it would have been there. I am conservative with targets. The actual number was 30875.

Ramblings of a Forex Junkie

They are going to pin it to 3100 and wait for the news Tantum.

Ramblings of a Forex Junkie

When you get a big spike out of a consolidation you often see a retracement back to the area of the spike break. If price goes above the consolidation level it can head for the moon from here.

Ramblings of a Forex Junkie

I got out too soon. Someone out there is enjoying thirty pips on me. Don't cry for me though I did just fine.

Ramblings of a Forex Junkie

With news trades I do things very differently. Something like NFP or interest rate decisions render levels useless to me except for taking profits. I go to strictly price action with these big news events. I love inside bars with the NFP trades ...

Ramblings of a Forex Junkie

Very nice move up, I hope some of you are still in this. Sometimes I am too conservative for my own good.

Ramblings of a Forex Junkie

Out and done with .95%. Good luck to those of you who are going for more. Remember to protect your capital and also remember that the ECB did just cut rates yesterday. The move up could have its limits.

Ramblings of a Forex Junkie

Looking for 3085.

Ramblings of a Forex Junkie

3054/55 area should now be support. If convincingly broken I will get out.

Ramblings of a Forex Junkie

I don't want to speak for him but I like the location at support. The bottom of the IB is right on the Thursday low.

Ramblings of a Forex Junkie

Resistance at the closes, normal and to be expected. Targeting the area of the monthly high that has been so sticky this week.

Ramblings of a Forex Junkie

In:

Ramblings of a Forex Junkie

We're getting the inside bar. I like these easy to set a stop.

Ramblings of a Forex Junkie

I am actually only risking about .4% on this trade and don't expect much out of it. I made the trade more for purposes of example than expected profit. As the movement is basically done for the day I don't expect this to move much up or down. ...

Ramblings of a Forex Junkie

A side note about this trade. This was after London close. Typically I do not enter trades after London close unless a news trade. I do not favor taking this trade but wanted to illustrate a point to KK007. The point is simply, once you have taken a ...

Ramblings of a Forex Junkie

Weekly highs and lows are self explanatory. The week close is the NY close on Friday. The week open for me is the Monday daily open three hours before London open. Midnight eastern most of the time.

Ramblings of a Forex Junkie

Here are the trades from today, the first entry of the day refers to the first level hit after the beginning of my new day (three hours before London open). The entries are highlighted: EU image GU image EJ image GJ image

Ramblings of a Forex Junkie