Forex: Tuesday, May18

It seemed that yesterday I had a clear picture of where the price was going, but today everything is a blank.

USA Housing starts @ 8:30 EST.

Shinken are you trading today? I've had one of those busy-work mornings that ate up my time, nothing do towards my long term goals.

I'm thinking of switching my focus to the aud/usd pair - more units can be held per $$$, and it seems to be a volitile pair.

I remember you posting about the pair a few weeks ago and that sparked my interest, what's your feeling on the matter? Do you trade multiple pairs at the same time or do you look for set ups and trade the pair that fits your criteria?

Short AUD/USD @ 6872

stop @ 6886

Target @ 6854

Rational for trade (aud/usd):

1. Three areas of resistance within 13 pips of trade entry 6874, 6877 and 6885.

2. The market has been trading in a wave pattern since 4 am this morning - a narrow range day between 6885 and 6845

3. The price is at the top of a wave, waiting to ride it down to the botom of the trough.

The best laid plans of mice and men.

Close trade @ 6862 for +10 pips on 15,000 units.

The afternoon market is too shallow, I think this will be my first and last trade of the day.

On a BIG plus note, I've had a run of good trades and I'm finally in the black again - after two trade that went against me and I didn't have a trailing stop in place.

I'm going to trade my small account for a few more weeks, if I continue to have the goood success that I've been having I'll deposit more cash into my trading account and look to make a living at this.

Funny, I hear successfull people refer to their jobs as something that they can't beleive they make money for doing, I feel that way about trading.

I have the same desire to trade as I had to play basketball when I was younger, and wrestle/box when I got a bit older. No matter how long it takes I'll make a successfull trader of myself.

You've got mail operator, but I don't know how much help I can be with your interview.

I'm strictly a support and resistance trader. I look for areas that have given a lot of support or resistance in the recent past, then look to follow or buck the trend using the S & R points for stop and target placement.

Good luck! Please keep us updated on the interview process.