EUR/USD, looks like a sell to me

[TAjammy]

some good divergence, perfect sideways price action, just wait for an important support level to crack ( around 1.41607) and it should be a good sell IMO

 

[shadowninja]

I trust you have a position to reflect your thinking, then...

 

[Masquerade]

If it was a sell then, it's an even better time to sell now and if it keeps going up it's an even better sell if you think it's falling

 

[TAjammy]

o baby! just sold NZDUSD !!!!!!!- p.s. i will only sell if it cracks some good support, otherwise i won't touch it, just watch it and wait

 

[virtuos0]

o baby! just sold NZDUSD !!!!!!!- p.s. i will only sell if it cracks some good support, otherwise i won't touch it, just watch it and wait

What makes you say 1.41607 is an important support level? It's found very strong support in the zone of 1.38 but above that there is nothing clear cut for me..

 

[TAjammy]

that level has been touched 2-3 times, plus by the time price reaches 1.38 the move i would want to trade would have happened already. Its imprortant because its at the sideways price action where an important support is found-for me anyway

 

[Jason Rogers]

I'll be the contrarian and call for a breakout to 1.45.

 

[trendie]

some good divergence, perfect sideways price action, just wait for an important support level to crack ( around 1.41607) and it should be a good sell IMO

excellent forward call!

now, for the managing of the trade, and getting the most out of the move. :cheesy:

 

[DanFrank]

Looks like the sell call came good, have I missed some news, seems like quite a sell off happening.

Dan

 

[Manya1983]

If it was a sell then, it's an even better time to sell now and if it keeps going up it's an even better sell if you think it's falling

Oh dear. Looks like you should follow up some of the teachings from Rav's thread.:smart:

Humility might be one of them.

 

[DanFrank]

Missed the move, i'll be watching for a rejection of the price as it climbs back to 1.4160 and then sell for a further breakdown and initial target of 1.410. Does this sound feasible?

Dan

 

[TAjammy]

ha, seems i was right after all! plus i made 30 pips on EUR/JPY today with the same strategy! heres a link Chart.ly - EUR/JPY and i exited right around the bottom !

 

[TAjammy]

hmph! the doubters should also check my new thread on the journals forum where i called/traded the 30 pip move on EUR/JPY

 

[Masquerade]

Looks like the sell call came good, have I missed some news, seems like quite a sell off happening.

Dan

The sell call was to sell on a breach of 1.4160. You'd only see 16 pips at the moment and be holding overnight into all that data in the morning that will create a lot of volatility. Also, no mention was made of the intended amount of pips to achieve from shorting. Is it 10 pips? 100? 200?

 

[Masquerade]

Oh dear. Looks like you should follow up some of the teachings from Rav's thread.:smart:

Humility might be one of them.

I don't follow the humility thing if it's a dig at me....

If I was following his teachings i'd be shorting cable and have felt a lot of pain doing it and I expect more will be felt. But either way, i'm not here to discuss Rav any more.

 

[TAjammy]

you can't predict exactly every movement, just sell when support cracks, close position when price gets close to 50 EMA, or when you feel like it

 

[DanFrank]

I got the wrong end of the stick, thought his call was from the breakdown from 1.4240. 100pips lol. I need to take more notice while reading.

Cheers
Dan

 

[TAjammy]

dan you talking about my call? 1.41877 now that i look at the chart would have been the best entry

 

[DanFrank]

yea. But I miss read your first post. Its been a long day and trying to read and watch/place trades when I'm knackered is not a good mix. Early night for me.

 

[TAjammy]

looks like a re-test of resistance coming up, it's ok, im just a 15 year old trying to learn from other traders here, and develop my system