Riley's Forex Futures and Options, Lets not blow up Acct.#3

[RileyR569]

Entered when i saw it falling under the short intraday trendline.
at 1.4793. Single Lot.

Good thing i pulled the trigger, up 63pips right now. (1 pip is $1 per lot of 10,000 for eur/usd)

The SPY call is now my hedge.
Im considering selling a Dec 102 Put with a tight Stop when we get in that area.
And having that for my hedge instead of the Nov Call.

[RileyR569]

forgot the chart:

[RileyR569]

With such a large rejection of price... I do not see how we could not test 1020 sometime this week. But with the Fed news this week, anything is possible intraday.

[RileyR569]

Should have took my quick gain of $60 on the EUR/USD.
I need to be remember to be careful with these Central bank releases.
Those could slaughter you in forex if your on the wrong side.

[RileyR569]

OK so here's how the day ended up..
I ended up trading in and out of the EUR/USD 3 times, which was stupid, as i only made money on the first one, and would still be up more than what i covered for the first time.

But i'm done for now. gotta hit up the grocery story and check out a new mouse if i dont spend too much on food.
Might trade a little forex tonight if i see some good action.

[RileyR569]

Well i should have held my short EUR/USD and would have realized some nice profit this morning. But woulda shoulda coulda.

Either way,
I entered GBP/USD this morning as looked like the 3rd fail of breaking the white support level shown.

I got in for 1 Lot at 1.6317
It had already bounced when i woke up. So didnt get in prime but still good.

Thing is i was walking inbetween classes to my truck to head back home and noticed i was up $50 already, so i said screw it and took my gain since the charts are terrible on ToS for iphone... Very very small.
So i failed to notice i sold at the break out.
Sold at:
1.6370

You can see where it is at now. Coulda got another $40 of it in a matter of minutes.. Probably more through the rest of day.
Hah oh well profits profit and i dont need to be long the market and short the dollar at the same time.

Still have SPY call and MICC call.

[RileyR569]

Just found another play..
Looks good.
and Long dollar on this one.
Entry price is shown in window.

[RileyR569]

Ok so i was going over the chart looking for a exit target.
Here's what i came up with.
Intraday exits would be one of the two support lines.

But if i was willing to hold this a few days. (Which i don't think i have the balls to do.)

The Daily shows a nice target of .6896 ish.

Also on the Daily, The big bounces seen on the hourly are because we are stuck in the consolidation range experienced in the pink oval.
So if we break down out of the consolidation range... We could possible see .6900 very fast, As you can tell this Pair is pretty volatile.

I also did some TA a week ago on How over the last ten years, almost every time long term trend-line (6-8 months) is broken, there is a significant pullback over the next month or so, Like a 1-4 Thousand pips..
The trendline broke i last week, and it doesn't look like a head-fake from then to today's perspective.

[RileyR569]

Alright just tested the trendline again, Looks like its going to fail.

1 Hour Sto is nealy giving a sell signal.. Just gotta hold it a few more minutes.

[RileyR569]

alright $42 down right now on NZD/USD.

Moment of truth coming up.. Their markets open in 20 minutes..
Or the ASX does anyways. It likes to follow that sentiment, but the NZD is weaker than the AUD. IMO.

So we'll see if it holds that resistance around .7225
It broke out, but im staying in until i am sure its not a headfake. Risk to Reward seems worth it. 75:200+