Got burnt

So, for all the alignment we had in fundamentals and technicals,the Aussie remained stubbornly high. Price action continued to range and knocked out all my stops. Frustrating.

Not much in the way of price action setups today. Have an order for the AUD/JPY to short waiting on the sidelines. GBP/JPY also looks attractive with price below key resistance level.

Aussie Ripe For Selling

So after yesterday's not so amazing employment figures release, the Aussie has ended the trading day in negative territory. Technical indicators are pointing South and some nice setups appearing this morning:

Trades are set. Will be keeping a close eye on the price action today.

Ho Hum...

Not much happening really post the 4th of July. All a bit boring in the market at the moment with most pairs still stuck in their ranges.

Aussie unemployment figures coming up tomorrow and heading into a heavy docket to round out the week. May see breakout price action which yields some opportunities next week.

Morning update 04/07/2014

AUD was smashed in yesterday's trade. A reaction to the speech from RBA boss man Glenn Stevens. Another inflection point for the Aussie after its multi-week correction rally. Will be watching to see if any selling opportunities arise in the coming days.

USD stronger after better employment figures, but activity still remains muted with Independence Day holiday today.

Morning Update 03/07/2014

Bah, so I would have made some coin if I had stuck with my last two trades. In hind sight, it wasn't the worst decision I ever made.

USD has been the biggest loser in the past week with most pairs (especially GBP and NZD) breaking ground against it. However, market has still been quite flat with most of the crosses still stuck in their prevailing ranges. Guess that is always the case with NFP week.

Will be keeping a close on Thu and Fri price action. Hopefully some big numbers get posted which generates some volatility.

Morning Update 26/06/2014

Another tight range of trading today. USD suffered a minor drop across the board due to worse than expected print of GDP figures. Yet this was not enough to cause a sustained price action break out.

I had exited my trades prior to the news. Not worth risking capital for such little reward. Don't know if this week will shape up any better. Will sit on the sidelines until some more meaningful triggers develop.

Morning Update 25/06/2014

Volatility has been low on the pairs I traded in the last couple of days. Market patiently awaits the release of the US GDP figures later today. Most of the technical indicators have turned neutral or are turning neutral.

It's a 50/50 bet now with news on tap tonight. Have held my USD/JPY entry for 4 days now with very little movement my way. USD/CHF triggered yesterday yielding some marginal pips.

Not sure what to do...

Morning update 23/06/2014

USD/JPY short entry last week has yet to yield any positive gains. Price action remaining neutral for the time being. Technicals are somewhat mixed, but still some marginal bearish pressure. Price did however close above 102 which has definitely lifted the pressure off the pair. Wait and see on the opening day of trade for the week.

USD/CHF put in a pin bar at key level. Moving averages only just starting to flatten out. MACD trending downwards. Limit entry placed.

Daily Wrap Up - 12/06/2012

So after a couple of days of chop, I exited both my trades without waiting for the stop loss. Price action setups stalled and then reversed completely to neutral positions. My perspective: do i risk the remaining capital for what was probably less than a 50/50 chance that the trades may get back into profit, or do I take the loss and wait for the next opportunity.

Decided to close out both trades. Definitely saved some pips on the NZD/USD setup, and currently have saved 30 odd pips so far on the GBP/USD setup.

Back to the waiting game...

Getting back into the trades

Had a pretty massive quarter so far; dizzying highs, then terrifying lows, but yet to see the creamy middles (Simpsons fan anyone?). Don't ever lose your heads in trading - either way. Whether winning or losing. Stay cool, stay calm, and you stay in the game. With those thoughts, on to my ideas tonight.

Week beginning 09/06/14 ... restarting the blog ... again ...

Year 2014

Wow, has it really been all most 6 months since my last post? It has been a while and a short break became a medium break, and then a long break. You know how it is.

In any case, I am back now in the new year (who knows for how long this time) and am looking forward to the trading action for the year.

Have had a very good come back week, pulling together some successful trades to get me back into the groove.

Without further ado, looking at EUR pair this week:

Pair	Level(s) to watch	Description
EUR/USD	1.34, 1.3580	Fakey pattern played out at the 20 MVA. Break of upward slope. Should see the pair target 1.34.
EUR/JPY	141, 142.8	Uptrend streak broken in the previous week. Consolidating last week to the lower side of the range. Looking for bearish continuation into the new week.