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Danny's Trading Journal

DannyBly said: "Today's trade in the EUR - I entered long at about 6AM CST having noted the 5&10 period EMA crossover on the 15 minute chart, bullish oscillators and bullish trend on the 3 hour chart...I scaled and out around 1.4535 and was able to stay long for the move up to 1.4580...note I almost got shaken out of the trade a couple of times before the upmoved occurred (pink sell arrows)... I think the ability to scale in and out is really key at entries like this (my plan is when you first get into your trade, to start scaling out as soon as it looks like you may be wrong, limiting your downside risk, and to add to the position as it goes your way)."

AlfredSokol said: "[QUOTE=DannyBly;63486]Today's trade in the EUR - I entered long at about 6AM CST having noted the 5&10 period EMA crossover on the 15 minute chart, bullish oscillators and bullish trend on the 3 hour chart...I scaled and out around 1.4535 and was able to stay long for the move up to 1.4580...note I almost got shaken out of the trade a couple of times before the upmoved occurred (pink sell arrows)... I think the ability to scale in and out is really key at entries like this (my plan is when you first get into your trade, to start scaling out as soon as it looks like you may be wrong, limiting your downside risk, and to add to the position as it goes your way).[/QUOTE] Yes, scalability is key."

DannyBly said: "I'm watching the ascending triangle form on the daily chart of EUR/USD - the pressure is bottling up - the Eurozone data coming out this week may be sufficient to trigger a breakout one way or the other -"