Thursday, July 22, 2010

updates

started regulating my trade sizing.

currently long cable 1.5176 at my max position of 30% utilization of leverage (1.8million long).

movements from 1.5335 area to 1.5125 area show a retracement range of 1.5230-1.5250.
Price is sitting at 1.5182.
Daily pivot is 1.5205 on my chart.

this means that if we break that pivot I should plan on taking some profits around 1.5230, leaving a runner, and possibly adding around 1.52 on the retrace...that way if 1.52 breaks, I will have taken profits and could then look for next opportunity.


-P.

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