I had a Scalper buy signal fire off on 3/31/10. I completed my swing play check list and did not enter the trade - Lower Lows and Lower Highs shows a down trend in price action. I will wait to see if price moves up through the .92 range. Looks like a sideway moving mkt that bounced off the 50ma. Price is at 76.4 Fib. from the low bounce off of the 200ma. So if AUDUSD puts in a new higher high I should watch for a pull back to support and go long. We will see what happens.
Else were, I had gone long the USDJPY and it went sideways for awhile, then broke long spiking over the downward trending 200ma. I closed my trade for a profit, but did not stick with my rules. Should always use my 2 bar soft stop. Price has continued to run. (cut your loser short and let your winners run). I am still learning.
The EURUSD is in a downward trend and price is moving back up towards the 50ma and the top range of the BB. There is currently a Scalper Buy signal on the trade, but will wait for a Short.
The only trade that I am in now is the YC. Entered with a Scalper Sell and I am now using my 2 Day soft stop. Live and learn.
As of 4/2/10 the price print of the High Bar on the ES is 1173.50. I am watching for a break of the high bar to enter short. The current up trend started 2/5/10 and has put in more than 20 new highs. Once a bar closes below the low of the high print bar I will short the market with my stop at the High of the high bar. Last time this happened price spent 6 days moving sideways and came within 1 pt of new high before dropping and testing the 200ma.
We Shall See....
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