hmmmmm very nice observation cadar…I see a down h/s forming on the 1 hr so we could see some temporary downward move if the NL gets breached. I will post a chart a little later. We could also see a nice move to the upside if the the rt shoulder gets violated (breached)
We hit all of our targets today and I placed 3 trades for the day. One of the trades was a little scary. I didnt have a great entry so I took about 50 pips of heat. (not good). I was able to snag 62 total pips for the day tho so not too bad. Attached is yesterdays chart updated. Now we start all over with our analysis. Analysis for tonight and tomorrow to come.
The attached 1 hr chart displays the trades I will be considering. Keep in mind that the market could become a little volitile due to the News releases. BOE govenor King speaks at 4:45 am est(equivalent to Bernanke for the US) and Consumer Confidence at 10am est. Also see the attached daily chart which displays the INVERSE h/s which the price has been struggling all day to hold above the neck line (red TL) Once the price holds above the NL I think we will see a nice move long. But if it continues to reject the NL then our shorts should come into play. As always, when I take one of my trades and my targets are reached, I will determine at that time whether to take profits and buy another dip or hold the trade as long as it is continuoulsy progressing.
I still see an uptrend, I already place a Long position @ 207.43, I’m seeing a possible C - convergence. See pic below.
206.17 is the T1 on the sell
I dont understand what a C-Convergence is. Would you mind explaining cadar? TY. I agree…witht the inverse on the daily and the 4 hr looking long also, odds are long but I always have an opposite play…heheeheh
EDIT: I worry about the down H/S on the 1 hr chart wreaking havoc on the longs so I will wait for a more confirmed direction. (scardy cat here 
)
Its a fib. convergence, its a point where there is more than one reason to get into the market. From the A,B, you would look for smaller a,b, spread your fib. from A to B then from a to b. The convergence would be anywhere on the trendline where fib. retracements from A,B and a,b meet, preferbly a .382/.618, forming a C,c convergence.
See pic below.
Well you guys definitely got your up move after first getting your down move … pretty good calls so far, I am awaiting your opinions as to what is coming next with this pair 
TP-1 hit @ 208.17, still has another lot open and looking to buy again should price bounce.
where is everyone. is this the right room?
[B][/B][B]Well Guy’s there were two very Important Support level’s
- — 205.50 Which break’s & +102 Pip’s…
2)----204.82 Which break’s & +30 Pip’s so far…
PipHacker[/B]!!!
I think its time to go Long again on this pair. I just wake up and find a nice bullish engulfing candle sitting on top of an outer-trendline that i drew some time ago. I also find fib. retracements/convergence .381/.618 at this same level. Buy two lots this time around, planning to ride it forever, all the way to 208.00. My entry should be @ 203.68 at the close of the EB, but I didnt catch that entry. See pic below.
Since this has reversed again, possible double bottom … what is your stop??
202.00, 30 pips below the last low. I dont normally use SL greater than 75 pips but because this pair move so aggressive at times I do.
I see a potential double bottom also, I’m gonna Long another lot should I get another signal at the DB. My initial entry should be at the close of the EB, if i had enter then I would have close 1 lot already for about 70 pips.
Tell me about it! I love the way this pair moves, but only when I am going the right way with it
I am long as well, 203.00, will put stop at 202.50 and re-evaluate if it retraces that much … otherwise, 208 here we come
G-Y is really struggling here around the 202.35 area, if it breaks from here it may go at least to its monthly S1 at 199.45. If you draw parallel trendlines from Mar 17, they are slanting upwards but as of midnight est, price broke below the lowest line. It has to recover fast or, the next phase will be down, imo. I am still pretty inexperienced so these are just observations, I’ll look forward to the opinions of those more experienced than me :).
At some point this is going to be a great long again, I don’t want to miss it!
Once it passed 202.20 it collapsed within minutes to the mid 201’s … what next?
SL hit @ 202.00. I had Sell Stop Order below the descending triangle @ 201.90, 1st TP already hit @ 100 pips. “Never marry a trade”.
I’m riding the wave down but definately looking to Long if I get a signal.
Wow … that is amazing, you had it all in place to reverse and go short, I hope one day to be able to trade with that confidence!
Let us know here if you see a signal for the long … that’s how we learn