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Yea mate. short pending. I think its gonna go now mate. Used the old recent low as a resistence from being support at 1.2146 and also 1.2150 as its a round figure suggesting a move lower. I fancy this down to 1.2050 today, So i think i might use that as my target. If this thing doesnt bounce its in trouble thats for sure. BP is almost taking 1% off the FTSE and if the prudential deal falls through then there will be strong GBP from unwinding of positions.
Sorry mate. I bailed. I can always get back in later. that's how i see it. The indecision of EURUSD isnt worth it at the moment and it's building up quite a base. I still think its going down but i might need a large stop.
cheers mate when the going gets tough you bail and leave me on my own. Charming. Im going to stay in it for now and stick to the plan stop is still at 1.2155 first target at 1.2095.
Im going to stay in it for now and stick to the plan stop is still at 1.2155 first target at 1.2095.
haha!It's going one way in a few minutes. 1min wedges tell me its about to explode. 34 upside 24 down side. Which one will win! NVM wedge patterns are BS!
As I said earlier on before I took on the EU short I would of liked to have seen some form of retracement before getting short as I felt I was shorting late into the move. So EU now retracing nicely and to judge a potential level to sell the rally I have fibbed from yesterdays high down to today’s low.
Should of just traded it this way first time round however got a little greedy and jumped the gun. Happens to the best of us
Should of just traded it this way first time round however got a little greedy and jumped the gun. Happens to the best of us
Just sticking with this EU 4hr chart although there was a little attempt at breaking through that bottom has held and now we are also seeing price making lower highs and forming a triangle. Its starting to get a little bit tight so hopefully we should see a nice punchy breakout and grab the chance of banking some pips.
advfntrader
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pozzy, looking at the support line its not exact and actually it looks as if the last drop breaks support then rebounds. what sort of stops do you use ?
It looks like a perfect set up for a bullish rally in euros or potentially bearish. Whatever happens it's gonna move somewhere. We could see a big trending move coming up. I have a bearish view on USD medium/long term at the moment so i wouldnt be suprised to see it go through the top side.
Hi Advfn
Thanks for the post
Yeah its not perfect mate but support / resistance rarely is, usually they are marked out as zones or areas. Its more of a location of interest rather than an exact figure. We can see that price turned around at the level but it might take 20 -30 ticks (particularly with current volatility) either side for it to form a reversal pattern. That’s why I use the lower time frame for the entry to gage whether the level has held or is broken. Overall price reacted off that level and so there is def support in that area.
Hi guys,
Just a quick post looking at the cable 4Hr chart still. We can see that price broke to the upside of the triangle that I had posted (I didn’t get the trade on as I wasn’t around) price has now made a higher high and a higher low, so if the Higher High is broken then I will actually have a bullish 4Hr bias (not seen that for a while)
Just a quick post looking at the cable 4Hr chart still. We can see that price broke to the upside of the triangle that I had posted (I didn’t get the trade on as I wasn’t around) price has now made a higher high and a higher low, so if the Higher High is broken then I will actually have a bullish 4Hr bias (not seen that for a while)
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meant to mention this a couple of days ago actually, but if you look at the triangle that's forming/formed on EURUSD then the NFP's pretty much line up with the point (or maybe monday obviously) either way, some kind of logic suggests that this thing is going to move sooner rather than later - bid NFP suprise? or weekend greek default/other euro news? any thoughts?
Not sure if I've got the hang of attaching pictures yet... but this shows the triangle, surely this has got to breakout in the next day or two - watching closely
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Hi Rosehound,
Thanks for the post.
Chart looks good mate, looking at the same thing on EU. Had a little go at breaking out but failed thats why I like to trade the pullback and not the breakout itself. Maybe NFP will punt a little life into things. All looking a little sideways at present and reckon it will stay that way untill the figure.
Morning Guys.
Looking at Euro pairs at the moment and trying to work out where we are going and its not an easy call to make. Obviously things have been very bearish and we have seen large sell offs but I would like to see some form of retracement. So i’ve taken a fib from Fridays high to today low and will be looking for some form of retracement. I have got a cheeky counter trend long pending up to the next resistance level and I reckon if we push through that then we should at least get to the 38.2% Trade hasn’t triggered yet.
And just as I was type trade triggerd and first target hit nice start to the week.
Looking at Euro pairs at the moment and trying to work out where we are going and its not an easy call to make. Obviously things have been very bearish and we have seen large sell offs but I would like to see some form of retracement. So i’ve taken a fib from Fridays high to today low and will be looking for some form of retracement. I have got a cheeky counter trend long pending up to the next resistance level and I reckon if we push through that then we should at least get to the 38.2% Trade hasn’t triggered yet.
And just as I was type trade triggerd and first target hit
nice start to the week.
