Long Kitchens and EURUSD

Our kitchen countertops went in today. Mrs. Geppy and I have been renovating our new home room by room. Much of the work we’ve done ourselves like the bamboo flooring, baseboards and trim, literally demolishing and rebuilding our stairs, painting, and remodeling a bathroom. When I type it out it doesn’t seem like much, but we’re two months into the process now and might have as much as two more! I’ll share some photos once we get closer to the finish line.

The entire process has been tough but rewarding. Mentally, we’re both ready to be done and not working on the house until midnight every night. But I’m learning a ton in the process and I have a bunch of tools now. The knowledge gain is worth the headaches.

I had a target of 1.1700 in for my EURUSD longs. I was pretty happy to see it was hit while I was sleeping. There’s nothing quite like waking up to a target profit close out. But as the pair traded some 100 pips higher it’s hard not to feel a bit disappointed at the money left on the table. 

I actually took a stab at some shorts during the run up. I’m not sure why I trade against the trend from time to time, but I know it’s dangerous so I always take small positions when doing so. I’d like to get better at grabbing small trades (~20-30 pips), so I suppose that’s what I’m doing here… practicing. I’m holding a small short position but slightly underwater on it. Here’s the chart I’m watching:

The break above the trend line resistance is significant, but it is starting to feel like we need to see a pullback. A test of the trend line, which also lines up with the 200-bar SMA could be an interesting buy zone. But I’m also mindful of the daily chart:

Today’s rally, as strong as it was, is still stalling out ahead of the 50-day SMA. I have no long term bias one way or another right now, but I’ll be watching the lower time frames to guide my next move. The only other trade I have on right now is a long play in $NFLX shares. I don’t trade equities too often, but I’m always looking for opportunities and I like the chart (not to mention the company itself):

The trend channel is hard to ignore, so I like taking longs from these levels. I managed to add some shares at $193.56 and some yesterday at $192.49 but my initial purchase was last week at $198.00 so I’m up on the trade just a hair with my average entry at $195.56. I wouldn’t be surprised to see Netflix trade up to $210 or even higher in the coming weeks.

Geppy Forex

I began trading forex in 2005. It took me seven years to figure out how to be consistently profitable. I blog in an effort to hopefully help other aspiring traders become successful much sooner than I did.

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