Play It Again Sam

...we were stopped out for a gain of 50 pips.

I immediately placed a buy order @ .9000 again which didn't get filled. As the market bounced I was able to fill at .9008

Stop loss @ .8899

AUDUSD currently ranging between .9007-.9022

Stop, (Hopefully no) Drop, & Roll

Risk has become appetizing again.

Stop moved to .9050

Cheap Trick

This week has been 'ugh.'

I don't feel so bad, as it seems from word on the street it's not so easy whether one is dollar bearish or bullish.

The precipitous drop in AUDUSD has led me to get in long at .9000

It's a nice round number and a fairly decent correction from the recent rally. If the H4 ascending trendline holds between .8900 & .8940 we'll be good.

Stop at .8899

Eat My Shorts

....missed the buy fill this afternoon by 1.5 pips

I'm feeling a bit bearish for the moment.

Shorts it is...

Buyer Beware

Stopped for a small loss on today's trade.

I'll be a buyer again if price reaches .9125 for sure, and if it breaks .9200 again an entry will be considered.

Brazilian Wax

Rumor has it, the Brazilian Central Bank is buying dollars today, giving it quite a boost when combined with other factors.

Commodities are weak as well.

VIX is up 8% as we speak

Filled

Long @ .9200

Stop near .9165

Who says Monday's suck?

Currently long AUDUSD @ ~.9190 (+86 pips)

Stop moved to lock in profits @ .9240 (+50)

Re-Entry order below to buy on dip @ .9225 w/ stop @ .9190

Hopefully the Hawks down-under will continue flying.

Good Week

Walked away from the week up apx. +70 pips.

At one point I was up 200 pips, & I wish I had closed.

That's how we learn.

Wanna Wrassle ??

...the AUDJPY sure does.

Pretty much broke even on the see-saw, which was the last three days.

It seems the Dollar is the funding currency en vogue.

Yen strength is making trading that pair a bit bumpy.

Long AUDUSD.

Let's see if this can work a little better.

I put my thing down, flip it and reverse it

...quoting Missy keeps me in good spirits.

We'll try a different direction today after being stopped out.

If a tight stop isn't enough, we'll sit out the rest of the day & look for sentiment around Asia open.

Good Trade

Stop lies just below "Camarilla" pivots.

Price seem to be testing upper intraday resistance.

AUDJPY long

Taking a small position, with a small stop.

Entry: 81.50

Stop: 81.07

Target: 83.90

(moving stop to +10 pips if price nears the 82.00 zone)

Much Needed

I was able to pick up another 30 pips during the Asian session Thursday night. That washed most of the losses for the week, allowing the 100 pip trade to go to the bank.

Will the AUDJPY be able to continue it's upward blast? Will it retrace before resuming? Will it reverse?

Key levels I'm paying attention to are:

Current Short Term Range: 80.50-81.50

Major Support: 76.85-77.00

Possible Target area: 83.50

How clean price action is will dictate the action for the week.

Fosters

.......Australian for Bull.

I closed for +100 pips.

Stalking another entry...

Yee-Haw

Aussie's add ~40K jobs...

Riding the wave...

"I'm a loser baby..."

"...so why don't you kill meeee." -Beck

While it is very frustrating to see a trade go south, more so especially when one is stopped out on a reversal, all one can do is learn.

The last two weeks have been absolutely horrid as far as win-ratio is concerned. If I was less experienced, I'd take this very personally. This is one of those periods where it really seems that the "market is out to get me."

What can be learned from it is this: Entries have been taken on signs of strength & breaks of key levels. Where this has worked against us is it was based on a continuation of the massive bull strength which began in March. Rather than leap forward, as anticipated, the market has been showing signs of weakness and/or consolidation. The naysayer's have gained back control after a long period of them scratching their heads as to where the strength was coming from.

Now, when you combine bulls taking profits & bears anticipating a drop, it's probably not the best environment to be buying breakouts. In hindsight, which as we know is always 20/20, a better strategy would have been to buy dips.

Also, I've noticed intraday that Dollar correlation to the equity markets has been unraveling, and the normal inverse relationship showed itself much more in the Yen. A novice like me can only guess this is evidence of the 'Dollar-as-world-reserve-currency' dilemma manifesting itself.

Next week will be a 'paper trading' week in order to reestablish my bearings.