I’m going to try something new today, and write the post as a sort of “stream of consciousness” – i.e., write it while I’m trading (during breaks in the market action, of course).

The market looks very indecisive this morning (at 6:45 CDT).  The EUR and GDP pairs technically qualify as being in CDM’s, but just barely, and they are already pulling back. AUD pairs are in a CDM, but it’s not a very decisive one – only around 40-50 pips since the start of the Asian session. CADs are just now breaking out of a range, and, in the few minutes since I took that initial read, they have pulled back as well. Everything else is in a range.

Looks like it’s a day to keep the powder dry and see what happens.  Major USD news (Retail sales and PPI) at 7:30.  We’ll see if that moves anything.

7:30 – took 3 trades on the news.  I took EURUSD long, and was stopped out fairly quickly.  I studied the remaining charts, and took AUDUSD long a few minutes later, and then NZDUSD long on a 3 pip suck back. Closed both of them at the close of the candle, as they hadn’t moved. Down 17 pips on the news trades to start the day.

At the 8:00 hour there was a fairly large upward move in the USD that sent EURUSD, GBPUSD, AUDUSD, and NZDUSD sharply lower. But so far, there doesn’t appear to be much follow through.  I have pending orders for RBOs set for EURUSD (not technically a range, but close enough for my tastes), GBPUSD, GBPJPY, USDJPY, USDCAD, and NZDUSD.  I also have a YL set on EURJPY. Considering a RE on AUDUSD after the loss on the news trade if it comes back to .7900 again.

I had several orders hit one right after another. The YL on EURJPY hit, the RBO on USDCAD hit, followed by the RBO on CADJPY.  CADJPY closed back inside range (just barely), for <3.2>.  USDCAD went 8 pips, but then started to pull back.  It closed outside the range, so I’m still in it, but it’s down 3 pips as I write.

USDCAD stopped out for -10.0.  I’m now down 30.4.  Make that 38.5, as the EURUSD RBO trade just stopped out.

The YL on AUDUSD hit, and then the AUDJPY stopped out for <12.1>.  So I’m now down 50.  But the EURJPY is doing well.  Moved to lock in a little better than 1:1 and offset some of the losses, so I’m still inside my LIS.

The AUDUS trade stopped out, and I had the RBO on NZDUSD hit, but then closed back inside (barely) for <4.0>.  Now down <65>.

Punched out of EURJPY as it flirted with my limit at the next level.  Took 31.9, so that backs me away from my line in the sand. Now down <33>.  Now I have to find some new trades.

GBPJPY RBO entered on a spike down in the Yens. Pulled back, but still in it.

9:30 – GBPJPY CBIR for <5.5>.  Oil news moved a little, but without follow through, and I didn’t take it.

Took a RE on GBPJPY at next level down – 148.50 as it continues to drop.

GBPJPY pulled back, but has not stopped out.  Also re-entered the EURJPY trade on a YL at 133.556. That puts me in 2 trades with 30+ potential.  If we get a run of Yen strength to take them both lower, I could finish well into the black for the day.

Well, that’s exactly what happened – both the GBPJPY and the EURJPY dropped to the next level where I had my TP set, giving +30 on GBPJPY and +35 on EURJPY.  In the process, the USDJPY broke out of it’s range, as did the GBPUSD. I was ecstatic with the result, and somewhat distracted and impatient, so I ended up punching out of those for a combined +10. The EURUSD also hit a re-entry point, but pulled back, and I ended up punching out of that <2.4>.  Then, as I was about to wrap things up, the NZDUSD hit a pending on the RBO, but didn’t go anywhere.  I ended up punching out of it for -4.8.

End of day results: 17 trades (haven’t done that many in a long time), 12 losses and 5 wins, but the wins were big.  Ended +29.8 (+1.32%), after being down by <65> before I started booking profits. Up 85.6 on the week, but still down <87.6> on the month.  Still time to get that back if I can keep my daily results positive.