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Thursday, May 24, 2007

Starting to think that a low ATR indicates that whipsaw action is likely.

EUR/USD -
Moved stop on short 1.3454 to 1.3504 (limit 1.3267).

USD/JPY - Watching

GBP/USD - No change on long at 1.9865, stop 1.9757.

EUR/JPY -

Entered short at 162.97, stop 164.00, limit 162.49.

Question: Should I enter when the ATR is low?

USD/CHF - Watching

EUR/CHF - Moved stop on short 1.6520 to 1.6557.

AUD/USD - Entered short at 0.8175, stop 0.8266.

USD/CAD - Moved stop on short 1.0829 to 1.0907.