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Trading notes 06/22/12
It has been a little while since my last update and I apologize for that. It has been a crazy few months around here. We have been dealing with some health issues in my household and a surgery this week allowed me a little time to try and catch up so here we are. I talked to a lot of you this week about your progress and helped you make some plans and set up some time to work together over the Summer once things slow down a little bit. For those of you I didn't speak with please feel free to catch up with me via email or the group and I will help you move forward from whatever point you are at.
The EURUSD continued to take steps down off its daily and weekly pullbacks this week and my only trade of the week was a short on the 60-minute chart in line with the most recent daily pullback using the basic phase-4 flow entry method from he training exercises. Because it is a low focus method it was suited itself to my busy week. Since it was a higher time frame I had to wait a few days for it to set up but it finally did early Thursday morning and I was able to get out of most of the position by the end of that day. I am carrying the rest on to see where it goes with my stop above the week's high at 1.2775. That will allow it to churn some if it wants to and only get my stop if things change quite a bit. There were loads of opportunities on the smaller time frames for scalping in line with the strength of this move but I had to use the higher time frame this week to work around my schedule. The flexibility is one of the nicer parts about what we do.
I hope to see you in the room sometime. Be sure to use the bulletin in there to learn more about some of the filtering we can use to reduce trades down to the better opportunities as well as a video on how to draw the crunchies.