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Wednesday, 21 April 2010

I see a theme..

The theme of my snatch trades from yesterday afternoon seems to be T1 intraday hit. Price retreats. Intraday stopped out. New trade setup. Trigger. T1 hit. Price retreats. Stopped out.

Looking at my open trades for this morning, it looks like my remaining swing trades on GU and EJ were stopped out. AUDJPY still going nicely. Already had 1 full swing trade reach targets, and the new entry signal from yesterday has now just hit 2nd swing target. So I'm loving those crazy Aussies this morning :)

Got to the charts at 06:30am GMT, and 2 trades had already set up and triggered on GU and EJ. Slightly frustratingly on GU, as because my live account is still through MT4, and each individual order entry has to be typed and submitted, I didn't get a chance to get my entries in. Where as my demo account that I'm using with Ninja is far easier. It's just a right click on the price, and done. Grrrrrr.

So, I was looking for that move up to T1 then the retreat back, to hopefully entry level again to look for a chance to get a new entry. Annoyingly, it looks to be bucking the early morning, pre 7:30 trend I've seen previously, and going on to hit T2 and not showing a sign of price retraceing....yet!

So, it looks like the day may be over before it's started for me on GU and EJ, unless price makes a dramatic down turn, and starts flirting with short trigger levels, or at the very least back to the pre 10am long trigger, to come back into that ATR potential range.

Still got an open GJ, EU & last part of AJ core swinger to manage, so all is not lost completely.

Might be a lazy morning for me.

Here's a couple of pics of how the 2 snatch trades looked to me.

GBPUSD



EURJPY



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