The set-up with entry, stop, and target.

Zappa's Journal

Just went long EURUSD with 5 lots

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Ehhh, fuck a break. Time to get back on the right track with an easy 1:1 trade. Going long.

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Was just telling a buddy, "there's always an element of unpredictability in trading". We must accept this and still find a way to prosper.

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So much for this idea! Well, at least I made a little money this month considering I just took a left hook from Mike Tyson. I guess I'll take the rest of the week off and try to figure out how I missed this.

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Should've left the stop at 1.5030. Got a little greedy and added too much which forced me to lower my stop too close.

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That's right. I had nice position built up as I was adding size along the way. My stop on that got hit, but I'm not a believer in this yet. I have entered another short with less than half of what I had built up. Let's see what happens.

Cable Update (GBPUSD)

Got stopped on this strong reaction, but not a believer yet. Just entered another short position with 7 lots with a pretty close stop.

Zappa's Journal

Yep, I was wrong. I'm out.

Cable Update (GBPUSD)

And yet another opportunity to go short.

Cable Update (GBPUSD)

We could very easily be below 1.4500 by end of the day. Added another lot and moved stop closer.

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It feels good, but the trade ain't over, so no time for celebration yet.

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Yes it is. Bulls finally realizing it ain't going up. Letting panic selling play out, and then taking profits. 1.4250 could happen very quickly.

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Well, no strong buyers have showed up yet, that's for sure.

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Why do you say that?

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I think the rally we had at 1.4950 was really a long-term bull's last hope. When 1.4810 broke, there really is nothing of significance until 1.4250. It could get bumpy after that, but I don't think this pair will make a long-term bottom until ...

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I can assure you that if it takes even a month to get to 1.4250 from today, I will be on to another trade. I am expecting a quick move to 1.4250. I am not interested in seeing the market go 300 pips against me before that happens. For it to take ...

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Its possible, and you are right to be extra cautious pre FOMC. The market isn't hinting at that, IMO. I think we might see a sell-off to new lows before FOMC tomorrow. Maybe there will be some decent rally off new lows and then sideways until FOMC. ...

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OK, threat extinguished by bears once again. There's a good chance we see a quick move down soon.

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Bears do NOT want to see a strong reversal from this spot.

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