Friday, May 11, 2007

Early Bird

Yes Earlybird you are correct. Good to know some are paying attention. That goes for you to Mimo. I will go more in depth about the calls and reasons tomorrow.

But in short, I based this target on 3 bar but yes the first level would be the top of the range bar. I based the entry on a 4hr pivot and somewhat anticipated the news. But there are a couple of othe factors I haven't had a chace to teach you yet.
I've been too busy helping some get grounded in the basics of pivot recognition.

Thanks for your comment Earlybird.

Everyone see Early bird's comment on first Eurodollar post...

Jerry

GPB/DOL

8:13 AM EST SWITCH REVERSE

CURRENT 9791

WILL TOUCH 9850 BEFORE IT TOUCHES 9755

JERRY

EURO/DOLLAR UPDATE 5-11-2007

7:41 AM EST

WILL LEAVE OPEN THROUGH PENDING U.S. DATA.
STOP IS VERY TIGHT SO I WILL KEEP CURRENT TRADE OPEN AND LET IT RIDE THROUGH NEWS.

JERRY

GBP/USD 5-11-2007

CANCEL- PATTERN STRENGTH AT CLSE OF 4HR-PRICE=NO CHANGE

GBP/USD
7:35 AM EST

CURRENT=9782

WILL TOUCH 9723 BEFORE IT TOUCHES 9816

JERRY

USD/CHF

7:30 AM EST

USD/CHF
CURRENT=2188

WILL TOUCH 2140 BEFORE IT TOUCHES 2226

JERRY

EURO/DOLLAR TRADE 5-11-2007

TIME=4:28 AM EST

LONG=3482
STOP=3459 or time stop (exit before 8:30 am est U.S. retail sales report) or on 1hr volume weakness or 1hr bear pivot reversal.
TARGET=3525

STOP=23 PIPS
TARGET=43 PIPS
REWARD/RISK=2 TO 1