I recommended both Home Depot and Lowe's Companies in the January issue of Money magazine. Since then, both do-it-yourself retailers have reported earnings declines, and analysts expect results for the current year to be up only slightly - or even down.
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Well not much action today. EUR/JPY retraced some today but the horizontal support line held (For Now). We'll see if the market can give us one more push up. EUR/AUD pushed up this morning then the sellers stepped in and pushed price back down. There's a lot of support below so I'm I might take some profits here and let the rest ride. we'll see how the candles close tonight. I've went through the charts and it doesn't look like there will be any setups at the close of day but I'll review the charts one more time before I got to bed.
Some of the pairs are in nice trends so we'll see if we can get some pullbacks for entries. If the market gives me an entry I'll take it otherwise I have no problems standing on the sidelines.
Trade Well....
Brent
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When it comes to real estate, the stars are just like us. Sort of. Take a look.
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Here are a handful of cheap stocks that might not stay that way in semiconductors, software and wireless.
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Find out where the world's billionaires live.
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Well another week comes to an end. I was able to close out out one of my trades (partial) this week for some profit. I still have a long way to go though. I'm very much in red in terms of pips this month. All though the dollar amount is not quite as bad. I still have my partial EUR/JPY long open, which at the close of the week was +203 and my EUR/AUD short position closed the week out at +58.
EUR/JPY closed above the upper resistance line Friday, so I will continue to watch the candles for a bearsh formation. I have locked in some profits on the my remaining portion so either way it will be a winner.
EUR/AUD is progressing slowly. Eventhough the long term trend is down it's running into a lot of support. We'll see if the market can give us a little push next week.
The current situation i'm in brings up a good point and another mental aspect of trading that you either will or have come across. I'm currently sitting red for the month, I have two open orders in positive territory, and the month is just about over. It's very and I mean very difficult not to close trades in situations like this to help you pip count out for the month. My advice is stick to your trading plan. Yes, sometimes you'll get burnt, but mentally it's better to follow the plan. It's like being on a diet. You can't just cheat once and it be okay. Stay strong and keep the bigger picture in focus.
Trade Well....
Brent
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divdivOkay.... picked up a little ground today. Monday I put in a order to go long on EUR/JPY and it was triggered. Today I took half the profits off the table today for +107. The good thing is that it is a trend trade, so I'm using my normal money management rules. My EUR/AUD short has also turned around today, so I'm well in the green on it. Currently +85. We'll see what kind of candle we are left with at the close.br //divdivstrongEUR/JPY - long/strongbr //divdiva href="http://3.bp.blogspot.com/_RHby9G9f-8I/RdypCHA4o_I/AAAAAAAAAB4/tolJkHU-Jak/s1600-h/eurjpy-long-2-21.gif"img id="BLOGGER_PHOTO_ID_5034084337200964594" style="CURSOR: hand" alt="" src="http://3.bp.blogspot.com/_RHby9G9f-8I/RdypCHA4o_I/AAAAAAAAAB4/tolJkHU-Jak/s320/eurjpy-long-2-21.gif" border="0" //abr /br /Nothing fancy here...We have a nice upward trend, we had a pullback, and I just played the pivot off of the rising support line. We had a good candle setup on the pivot, and I just set my entry a few pips above the hammer in the shaded area. Price breaking the high was my confirmation. I know it's not fancy, but it works. I set my take profit for half the order just below the last runs high. Currently price is hitting up against the rising resistance line. I'll wait and see if price can break above, and get a little follow through from the market. My current "visual" stop loss is break even.br //divdivstrongEUR/AUD - Short/strong/divdiva href="http://1.bp.blogspot.com/_RHby9G9f-8I/RdyqznA4pAI/AAAAAAAAACA/-VXbZ6YHrWg/s1600-h/euraud-short-2-21.gif"img id="BLOGGER_PHOTO_ID_5034086287116116994" style="CURSOR: hand" alt="" src="http://1.bp.blogspot.com/_RHby9G9f-8I/RdyqznA4pAI/AAAAAAAAACA/-VXbZ6YHrWg/s320/euraud-short-2-21.gif" border="0" //abr //divdivOkay, I've been in this trade for several days. I've taken some heat on it on several days. This is why it's important for you to stick to your plan. I entered this trade because of the declining price channel. Price had been rejected by the resistance line on several occasions, so when i saw a pivot with a nice canlde setup I took it. Again this isn't extravegant. Just straight forward technical analysis. Why did I stay in the trade? Well...because price was making lower highs and it never broke the peak (shaded oval) where I entered the trade. Price also never broke the upper resistance line of the channel. This information told me my edge was still in play. So we'll see how this plays out. The good thing is my stop loss is getting smaller as the resistance line moves down. /divdiv /divdivTrade Well...../divdivBrent/divdivbr / /divdiv/divdivbr /br //divdiv/div/div
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When it comes to the most luxurious properties around the globe, the price tags are as unique as the pads.
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Nothing happens in business until somebody sells something. And most of the time, that requires a lot of advertising.
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Well things are a little bumpy this month. Was stopped out of my USD/CHF trade Thursday for a loss. So thus far I have no winners and one breakeven for the month. We have a few trading days left in the month, so we'll see what the market gives me to finish up the month.
I have one trade left open and it's a short on EUR/AUD. Currently it's around my entry point. After the first glance of my charts it looks like I might have a couple of orders later night. I'm still currently in Switzerland, and I'm traveling to Germany today, so I'll wait to I get settled in tonight before entering any trades.
Trade Well...
Brent
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