EURO/AUSSIE ,, 3710/3720 in sight ?????????

George A

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Hello all ,
Just food for thought !!!!!!
I have been following this trade and made the call since the 14th October (last week ). I might be wrong , BUT it seems to be behaving beautifully for a nice run to the target . 1.3710 /3720 . so i suggest keeping an eye on that level , although we will possibly have some headaches on the way at 4010 and 3860 .
There are few factors that are pointing at that level so far IF it pushes down , and they are NOT weak , without me going into details . so i prefer to leave it at that for now .
I have further targets in mind , which i will try to update on as we progress to the first major station .
Cheers ,
George :cool:
 
Last edited:
Hello all ,
Just food for thought !!!!!!
I have been following this trade and made the call since the 14th October (last week ). I might be wrong , BUT it seems to be behaving beautifully for a nice run to the target . 1.3710 /3720 . so i suggest keeping an eye on that level , although we will possibly have some headaches on the way at 4010 and 3860 .
There are few factors that are pointing at that level so far IF it pushes down , and they are NOT weak , without me going into details . so i prefer to leave it at that for now .
I have further targets in mind , which i will try to update on as we progress to the first major station .
Cheers ,
George :cool:
The market has been hovering at this level 4139 for the last 4 days , because it is 76.4 retracement of the last major leg up from the July low to August top , and for the S&R traders , it is contenting with the structures on the left both on this daily and the weekly chart.
Also few strong Fib based factors , giving us strong targets at 4149 , and 4142 ( 4 hour chart ) which can NOT be ignored , hence this extended side way move .
It will be interesting to see which way THEY will push it from here,, a re test of the top maybe ??????
My original call for a further drop to the 3720's is till valid , and with a high possibility .
Don NOT forget , the market IS always right in the end , we can ONLY analyse it and make predictions
Cheers,
George :D
 
Where does price have to get to for you to decide the trade is wrong and close it?
 
Where does price have to get to for you to decide the trade is wrong and close it?
Hello Shakone,
I dont know if you are testing me or not here , BUT i will give u the benefit of the doubt , BUT if i want to be like everyone else i would be saying this ,
It all depends on one's strategy , and also money management .
But i will answer what i am doing ,
As i am also an intra day trade ( NOT a scalper ) , i trade the swings on the 15 mnt charts , i still trade the market where i see a trade regardless, hence it was a buy this morning according to the following
At 4153 and above after the first low of the day was a confirmed higher bottom on todays action and my target top was 4176/78 . which was a nice short entry as it is at a Strong extension Fib level . and from here i just have to see what the market will dish out next .
I just follow the market Shakone , BUT more importantly on the short picture i have full trust in my fibs, as this market is built on Fib levels ( my opinion ONLY)
So while we have the short still in play on the big picture , whether one caught it at the August top OR at the top of the 38% rally to this months high area, one can still suck the market with all opportunities presented .
Hope this satisfy s the good old curiosity .
Cheers ,
George
 
Hello Shakone,
I dont know if you are testing me or not here , BUT i will give u the benefit of the doubt , BUT if i want to be like everyone else i would be saying this ,
It all depends on one's strategy , and also money management .
But i will answer what i am doing ,
As i am also an intra day trade ( NOT a scalper ) , i trade the swings on the 15 mnt charts , i still trade the market where i see a trade regardless, hence it was a buy this morning according to the following
At 4153 and above after the first low of the day was a confirmed higher bottom on todays action and my target top was 4176/78 . which was a nice short entry as it is at a Strong extension Fib level . and from here i just have to see what the market will dish out next .
I just follow the market Shakone , BUT more importantly on the short picture i have full trust in my fibs, as this market is built on Fib levels ( my opinion ONLY)
So while we have the short still in play on the big picture , whether one caught it at the August top OR at the top of the 38% rally to this months high area, one can still suck the market with all opportunities presented .
Hope this satisfy s the good old curiosity .
Cheers ,
George

No George, I just think it is a fair and relevant question (do you disagree?). One can give a direction and a target, but without an entry or a stop, or even a level that you plan to get out at if breached, it becomes a bit meaningless. I'm sure you understand.
 
No George, I just think it is a fair and relevant question (do you disagree?). One can give a direction and a target, but without an entry or a stop, or even a level that you plan to get out at if breached, it becomes a bit meaningless. I'm sure you understand.
Hi again Shakone,
Of course i do understand ,, BUT it did sound like what i said ,Point accepted , and please accept my apologies IF i id come across in a bad way with my reply .
Any trader with the proper knowledge , MUST have these points in place , and each trader has different theories , methodologies , and trading plans .
My advantage is the fact that i am an active trader as my life style allows me to be that . and i can spend as much as 10 or 12 hours a day ( which served me greatly with my market action knowledge ), cause i am extremely passionate about trading , and i enjoy it .
Cheers ,
George
 
No stops or entries then?
As i am a full Fib trader , and also as low as 15 mnt charts , and when correlating the high TF and low TF , i do get in at very tight and precise entries ( often within 2 pips of the level ir even .2 or .5 ) , hence allowing me to have very tight stops , NOT more than 10 pips .
To give u entries is always hard BECAUSE , although we have targets on the higher TF , more often than not we get price over runs on the higher TF ,, we find that the low TF almost always command the fine tuned entry level , which again more reason as to where i would enter , as a 15 mnt chart is a faster moving chart .
I find it a great system , and when the market runs my way 10 to 20 pips ,OR the feel of the momentum at the time , i lock my trades at break even as soon as i can , i do NOT need to leave them open. cause IF it pushes higher to the next level , i will only get in at a better price .
BUT in my original post i have targets , as well as entry levels at the highs , and at these targets is when i use the 15 mnt charts , very powerful stuff IF one has deep knowledge of Fibs and their application , because Fibs are NOT just about retracements ,, that is the basic part of them , BUT it is in the extensions of fibs where the power lays , and that is a deep subject , and can ONLY be explained on charts , not verbally .
With Fibs , one can almost pic EVERY top and bottom of everyday , BECAUSE they almost always fall on Fib EXTENSION levels .
Hope this will clarify why i did NOT answer that exact point in the last post .
Cheers,
George
 
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