Long Robitussin and EURUSD

I’m sick. There’s no great time to be sick, but there are some worse than others. We leave for SoCal to visit Mrs. Geppy’s side of the family on Thursday. I’m trying to get as much renovation work done at night before we go. So it’s a pretty bad time to be sick!

I’ve been slugging Robitussin like crazy, drinking lots of tea, and trying to catch naps in the middle of my work day. I think it’s working…

I remain long EURUSD even though we’re trading over 100 pips below the highs. I just can’t ignore this chart:

The 100-bar SMA on the 4-hour chart has now crossed up and over the 200-bar SMA. That means the SMA’s are now purely aligned to the upside. The last time this happened, price was at about 1.0900 and climbed to just shy of 1.2100 before the SMA’s crossed back down. So it’s significant.

I wasn’t able to write yesterday, but I did sell 3 Netflix $195 puts with an expiration date of this Friday (Dec. 1st). That ended up being a great trade as NFLX went beast mode today, up over 2% to over $199/share.

I’d fully expected to hold those until expiration, letting them expire worthless. But after EURUSD plunged on the North Korea missile launch news, I couldn’t resist dumping the puts to buy more Euro futures. I didn’t have enough available margin to do it without closing the puts, and I’d collected 85% (about $450) of the premium already, so I figured why not!

I only need to be right by 5 pips by Friday for it to be a net positive. Hopefully it’s more than that.

I hope everyone’s trading week is going well.

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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