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


Looking at this chart and this one:


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.


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


Long QM 85.025


The bottom is again holding on a higher low

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


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


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