EURUSD Channel Analysis

Beginner Questions
1

Hi
I am looking at posting some analysis I do in EURUSD on 1 minute charts.
Basically I don’t pretend to know where the market is going but in the first 2-3 hours of Europe I try and pick potential bounce points. I may well be both long and short at some point looking for a break of the current channel.I will be posting my levels for going long and short and then doing projections for where I think it might go if it goes higher or lower. If we test the top or bottom of a channel after taking a position I will take my position to breakeven. If we reach my profit target I will scale out half the position and let the rest run with further analysis.Here is an example of what I look at from today but tomorrow I will be posting the charts prior to taking positions.Please let me know if you have any thoughts or comments.
Target for initiating position

1444727341.jpg700×410 24.6 KB

Target for take profit

1444728359.jpg700×410 24.5 KB

Numbers 1 and 2 are the initial channel and 3 is the projection

2

Do you only use M1 charts?

3

What is your intention here, why you post your analysis at this forum? There are so many other places where you can share your analysis.

4

Hi Rambo
Sorry I just joined babypips, where should I post it? As I am a Newbie I am not sure the best place to do it.
And to Forex verified, yes I only do short term analysis using M1 charts. Some of the principals work for longer time frames but I can keep a pretty good running average with the short term just when Europe opens.

5

Hi
I am going to start positing my channel analysis on the Forextown forum instead of here. Hope some people find it useful when I start.