Square and out of the E/J trade from earlier today. Only remaining open position is in the $/CAD for now.

Technical Analysis Fallacy

Taken a long position on the $/CAD protecting the open.

Technical Analysis Fallacy

Lots of trades so far today, just chipping away at it by taking 5 here, 10 there. Being opportunistic as much as possible. Still in the E/J as my only trending trade. FA in 10 minutes that may get the dollar moving, and the cad, too. Back later.

Technical Analysis Fallacy

Happy trading day everyone. Slow news day today. I am short the E/J protecting my entry now. Stay focused and good trading.

Technical Analysis Fallacy

Here is the late GBP trade from this morning. The entry level was held for about an hour before it took off, and went to a pre-determined limit level at 1.6175. Most of the TA (except fibs and trend line) were removed. image

TAF Based Trade Discussions

Thanks, but the entry was pretty well telegraphed. It had been hanging around that level for about an hour, so it was pretty clear. The exit was just a place where luck and pip target (40) intersected - lol. Done trading today and will check back on ...

Technical Analysis Fallacy

Took another long position on the GBP at 1.6135 and am again square and out at 1.6175. I am taking a break for a while and will be back later. Good trading day and I hope everyone got some of it.

Technical Analysis Fallacy

I am long the cad/$ at 1.0304 Edit: square and out at 1.0317

Technical Analysis Fallacy

LOL - Is that a picture of a Florida orange grove?

Technical Analysis Fallacy

Happy trading day everyone. Been a busy day so far with trades in the GBP and EUR, now on the sidelines waiting. auxesis, get the same feeling about the euro now. Staying focused now.

Technical Analysis Fallacy

Sorry j-pax, but I just saw your edited version. Yes, I think there is at least some hope that after the mid-term elections, there will be a move to cut spending and do what is necessary to revive the economy.

Technical Analysis Fallacy

Oops, I thought the family example was an analogy for the government. Sorry.

Technical Analysis Fallacy

No, and there is little chance they will be any time soon. Maybe mid-term elections will see the beginning of a new way of thinking.

Technical Analysis Fallacy

Hi fti, I think 2009 will be a hard act to follow for the the US Treasury and the Fed. Bill Gross was on CNBC today saying that according to his numbers, the Treasury issued $1.5T in debt in 2009, and the Fed bought $1.2T. We may be running out of ...

Technical Analysis Fallacy

I agree with that. I'm done for the day/week. The picture is clearer for next week and we should see things move a bit more next week, especially since earnings season starts next week. Be careful everyone.

Technical Analysis Fallacy

OK, I will trade the next move we see now, but not sure which way this thing will go. That is, if there is a move. NFP was like a punch in the stomach to some of the cheerleaders on CNBC here in the US. Kind of funny watching them make up excuses ...

Technical Analysis Fallacy

OK, thanks and I will use that terminology. 30 mins before the big FA. It will be interesting if the manipulation will continue or will market push it aside with force. I am square and waiting.

Technical Analysis Fallacy

fti, that is an interesting question. By flat I mean I am out of the trade at the entry price with no profit or loss. I will protect entry price if the trade is up 10-15 pips (as with the last trade) and if taken out, I get ready for a re-entry at a ...

Technical Analysis Fallacy

OK, I am short the E/$ at 1.4289, will protect the entry area up through the NFP announcement. If I can collect 25 pips prior to announcement, I'll take 'em. Edit: flat, looking for another entry

Technical Analysis Fallacy

Looks like someone in Canada is getting an early start of the employment announcement in 32 minutes. I hate it when they do this! Edit: after announcement it is clear they got it wrong before the announcement. Hope no one took the bait.

Technical Analysis Fallacy