[TW] 10-17-2011 - EUR/USD (Short) by PureMuscle

plzzzzzzzzzzzzzz: EURUSD IS GOING ABOVE 1.3911! You are TRADING AGAINST BigMoney!!!
USDCHF is going below 0.8914 and so EURUSD is very likely to go above 1.3911.

Players are going to come into the market to defend the representation MA soon. YOU WATCH!!!


My fear is: YOU WILL BE STOPPED!!!

No problem, I understand your zigzag + stochastic + cross referencing method to trade, but fundamentally, I’m feeling that EUR is still too weak against USD. If i get stopped out, then I will refine my trading methods, no problem with that. But I prefer not to meddle my trading method with yours because doing so will just confuse myself and in the end not able to improve on my methods. Thanks for the advise though. :slight_smile: Your trading method is interesting too!

COOL. But i did not say change your trading style. I was just pointing to the fact that EURUSD is heading for 1.3911 and you were on the wrong side. The push will be strong and then it will fall back under 1.3790. Take care and all the best.

Certainty, why is it dropping at the moment? 1.3790. Highest point of the day -> 1.3870.

I firmly believe that the market is responding to fundamental sentiment at the moment.


The market is going in my favour :slight_smile:
30 minute chart shows that it is below the tenkan sen. I believe it will continue to move down.

Wow, you are brave to trade on a 5 minute chart :smiley:

actually i don’t :slight_smile: i have 30 minutes and 1 hour chart by the side lol.

all the best!!!

Lol, Certainty don’t edit your comments please :stuck_out_tongue: I spotted that one!!

Anyway, case in point:

Enough said?

Edit what? I realized he is a nice person so instead of been hard on him, I decided to wish him the BEST!

Still holding on to my short position…

Looking at the 1 hour chart, there are 2 obvious shooting star pattern 3 hours ago…
Waiting for it to break through resistance at 1.3723.


Update: Broke through the resistance at 1.3723 -> becomes a support now.
Great feeling this bearish movement will continue.

Certainty - I dare say I told you so… 1.3705 at the moment

Found support at 1.3689 -> Previous support + resistance. I might be jumping out here, if it breaches the upper resistance. Hope for a continued bearish movement though.

EDIT: got out of my short position :slight_smile: Near 130 pips gain.


Rationale for exiting trade: It looked like the end of Elliot wave 3 on M15 chart, divergence with USDCHF on H1 chart, doesn’t seem to break through major support lines, and getting near the tenkan line.

Yeah, like it was originally predicted, the trend is still downwards. 1.3685 now. Sure it was BOUND to go up at some stage during the week, but it has not come anywhere near 1.3900. Point proven. And the daily is just saying even more downwards momentum.

There is a triangle forming on H1 chart!!! If it breaks out, I’m quite sure of a 200-300+ pips movement :slight_smile:

Hmmm on the H1? I can’t see it :confused: Can you post a screen? :slight_smile:

*It would be easier to spot it in H4 :slight_smile:



EURUSD is moving up again to form the triangle pattern…

Quite a strong triangle imo…

Yes, I’d be interested to see a graphic of that. If anything, it is looking a little ranging, although making (slightly) lower highs. It has given intraday setups within the range, but I wouldn’t be looking to trade it as a triangle, personally. Not knocking, we all see different things in the charts and as long as it works then we’re trading it right!

Breached the triangle. I’m into the short position again with tight S/L of previous high.
I’m also a little dubious on the triangle here.

Will update on the trade if I get stopped out or it continues downwards.

I’m going to get a sleep first. See you guys :slight_smile:

***I hope Gaddafi’s death won’t affect the currency XD