Friday, September 2, 2011

A couple charts / still holding EURCHF

Although I didn't expect to, I did end up taking some trades today.  Perhaps the employment numbers shook up the markets a bit and woke them up.  I broke even today, although I should have had a relatively decent day.  Bottom line, my stops were too close on a few trades and I got chopped around.

Not much time for in depth writing tonight, but here are few trades with annotated charts:

PBR - Used the trendline to help time the 2nd trade (2nd red down arrow).  First trade was stopped out, it was not a good setup.  This stock also had a strange high volume move around 3:00 PM.
PBR 5min - 9/2/2011
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MTL - Used the trendline again to help time the trade, but was a much cleaner setup than PBR.
Also shared on

MTL 5min - 9/2/2011
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EURCHF - Still in the trade since 8/31, up nearly 500 pips, and holding on over the weekend.  This afternoon provided the first signs that the downtrend might be nearing the end.  However, we'll see how this pair opens up Sunday afternoon.  If it breaks and closes above the downtrend line over the past few days, then I will likely exit. 
EURCHF 15min 9/2/2011
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Have a great and safe weekend!

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