Nzd.usd

[arco]

Before zooming north overnight the action ventured
into the PTZone (lower pink box) shown on the last
chart - a little quicker than expected. We could now
be seeing the test of the broken TL mentioned.
Watching for a possible reversal off that point

[peat]

this was a risky but satisfying scalp and 10+11+15 = 36 pips.

theres so often something to be had off a 78% retracement

[peat]

this is how I'm seeing it on the 15minute. First a W and now an M
I have small longs already placed but the next buy order at the 78% retracement .7765. Price did go there twice earlier so may not again - and was very close to filling a few minutes ago.
Stops at -30 for each trade.

[FTG]

You are certainly a bold fella Peat..............especially with where things are at the moment, awaiting the fed decision. :-)

[peat]

the risk is well quantified FTG
the trade meets my criteria so....
I believe that announcement is not till 830 our time tomorrow - a 30 pip stop might be too tight when that happens.

7764 order now filled as well.
see how it goes.

[peat]

closed the main order (largish for me) +48 -
chickens left to run.

[FTG]

Well done Sir!

I must admit it was the 30 pip stop that had ???? for me, but hey it has worked just fine for you!

[dumbass]

nailed it peat and time for a cup of tea before the fed

well done

[peat]

and the chickens came home to roost +100 while I was at the dentist.
no fillings either so a good start to the day.

[roddy]

Peat

nice trade and the trading you have been doing of late Peat could of paid for quite a bit of dentistry!

peat you said

>the risk is well quantified FTG
>the trade meets my criteria so...

i have just reread john j Murphy's classic Technical analysis of the financial Markets 1999 ed

and in it he echoes the same words of having a trading system or as you put it meeting a criteria!
i am still lacking discipline in this area but can only improve

cheers

roddy