Wednesday, October 24, 2007

October 24th

It sure was a black Tuesday for me yesterday. Expensive, as I didn't apply strict Money Management rules. Tried to get my head free for todays trading.

Took the AUD long at 0.8954

Globetrader_78

Looking at this chart and this one:

Globetrader_80

The POC on the R10 chart just shifted. According to yesterdays theory this should cause a spike to the upside, as prior to the shift we were trading down.

Globetrader_81

Stopped on AUD +1. It tried to trade above 0.8967 but was sold off strongly twice. I saw no reason to remain in the trade as the objective for the moment (a cross above the 0.9000 FX level) is not about to happen

Globetrader_84

Long QM 85.025

Globetrader_82

The bottom is again holding on a higher low

85.10 is a barrier this morning...Out at 85.125

Globetrader_83

Made an "impressive" 24 ticks on a 200 tick run up in oil.

Globetrader_85

I have to say I was just too slow taking the trade, waiting to see the numbers on the news feed before I allowed myself to pull the trigger

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