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Maletor's Daily Market Review

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Maletor's Daily Market Review

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  #41 (permalink)
 Eric j 
Experience: Advanced
Platform: Esignal, MBT navigator
Trading: Currencies
Posts: 2,526 since Jun 2009
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Looks like a double top with the trend but without a meaningful retracemant I would leave it alone especially after lunch on friday .

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  #42 (permalink)
Posts: 88 since Jun 2009
Thanks: 7 given, 27 received


1 - False double bottom, heavy downward momentum, break of EMA

2 - Breakout pullback of high of day, H2. Didn't take because I was away.

Came back right as the high of the rally was being put in. Materialized into barb wire and was just a chop fest the rest of the day. No way could I play that.

Even the 3 pushes up that I was ready to short around 2:30 turned into barb wire.

Today's action was strength in disguise.

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  #43 (permalink)
Posts: 88 since Jun 2009
Thanks: 7 given, 27 received


Went long on bar 1 outside bar. Risking 9 for 4. Reversed on failure for the sound reason that a failure to retrace back to the opening trading range would mean that it was a breakout pullback to the downside.
Tried for 9 ticks, couldn't even get 4.

On the channel up, I was looking for a second entry short because we broke a bull trendline from yesterday and I was looking for a test of the extreme. On the way up, if I had been looking for an H1, like I should have, I would have made 4 ticks.

Second entry short materialized into the best trade of the day. Still, it was not a "best trade" and I was not there to take it. The rest of the day chopped.

I got my butt handed to me.

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  #44 (permalink)
Posts: 88 since Jun 2009
Thanks: 7 given, 27 received


So much barb wire.

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Last Updated on July 15, 2009

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