Trades for 10/10-10/15 2010

10/10/2010

• Went short at 1.388 for 14 pips. Target has already been reached.  $41.40 profit.  Eur/Usd opened with such a large gap from Friday's close, in most cases it retraces and in this case, it has retraced all the way down to 1.3960.

• I have a buy limit for 3 mini lots at 1.3920.  I'm looking to scalp only 4 pips.  I am placing the trade at 3920 b/c that is the pivot point for today and it most likely will encounter resistance there before breaking through, if it does.  If it does not hit target by the morning of 10/11, I will re-evaluate or cancel the order.

• I have a sell limit at 1.4061 for 5 mini lots with a target of 4 pips.  That is the second pivot point for the Eur/Usd and it has been really struggling to get past the first pivot point at 1.4002.  Volatility is fairly low so I'd be surprised if it hits this target but I will leave it open over night. 

• I may place a sell limit at 1.400 b/c of the strong resistance the Eur/Usd has been facing there

10/11/2010

• I cancelled my buy at 1.3920 since it wasn't caught over night.  Due to the consolidated movement over the night, I reversed the order and placed a sell stop at 1.3915.  The order was for 3 mini lots with a 7 pip target. I also placed a buy stop at 1.3965 for 3 mini lots with a 7 pip target.  When one of the two orders fill, I use the other order as a stop, in case the sell or buy doesn't fill.  This order filled short at 1.3915 and hit its target at 1.3908 for a profit of $26.10.
• I placed a buy stop at 1.3852, because that is the 2nd pivot point of support I have drawn.  Order is for 5 mini lots with a 5 pip target.
• Sell limit at 1.4061 remains open

10/13/2010

• Bollinger Bands:

1. Were wide and were setting up for a good movement but I wasn't sure in which direction. I placed a sell stop at 1.3943 with a profit target at 1.3820.  That sell price was determined by the Bollinger Bands high and low.  I put the sell stop 15 pips below the low of the Bollinger Band, to avoid a false breakout.  
2. I placed a buy stop above the high of the Bollinger Bands at 1.3976, with a target at 1.4023. Each order had a stop loss of 20 pips

•    I had a sell limit placed for 7 mini lots at R2 at 1.404 with a profit target of 5 pips.