Break even Hit on GBP/USD trade.
Another Great entry opportunity on EUR/USD with huge test of 1.3700. Looking to hold to 1.3475 should we get beyond 1.3600-1.3590.
Good Morning! Great maturing of the weeks short trades on GU, EU, NU,AU.
[B]Current trades/setups[/B]
Long GU @ H4 PVSL 1.6149, Stop 1.6134, TP1 1.6320-6350. Resistacnce @ 1.6194, 1.6253
http://img46.imageshack.us/img46/4945/gbpz.png
Long EU @ 30M 55% fib of last up swing 1.3759, Stop 1.3735 TP 1.3950. Resistance @ 1.3776 (Riskier Trade)
http://img641.imageshack.us/img641/3653/eurge.png
Early break even necessary as there could be bearish reversal at resistance zones.
Good day all, hope your having a good day’s trading today. I have been watching the action from the side lines this week. I have had a bit of a adhoc nightmare at work to deal with this week so havnt really been able to get on here.
Glad to see your still keeping us upto date with the setup’s bank, I have been having a look at your new entry method’s which seems interesting so I’ll be looking at that more over the weekend. So thanks for sharing this.
http://img820.imageshack.us/img820/3117/audl.png
[B]Updated Chart
[/B]http://img52.imageshack.us/img52/466/audz.png
Hi pyd, yes it has been wacky this week, so trading carefully. It appears more to me that this is all precursor to a massive major move. Possibly dollar strength. Nevertheless, I am not leaving stops open for long on any trade without break even with this level of volatility. Glad to hear you’re spending time to go through. Today has been good so far. Not lot of pips yet but +pips banked.
[B]GU[/B]
Short @ 1.61966, TP 1.5950-1.5830
[B]EU[/B]
Short @ 1.3785, TP 1.3550, Support 1.3783
[B]AU[/B]
Short @ 1.0111, TP 1.9900, Support 1.0015
hey bank nice trades… Have you been able to get chris a system formed for you? By the way could you share your vt fibs so that I may use them as well and take a look?
Thanks raging! I am still sorting out the rules, I need to give to him, was working on it yesterday but not yet done. When you say share vt fibs do you mean give you the levels ?
One key point that I may add to your system when identifying to chris, make sure you tell him when signals should trigger on the open or close of the candle. For example, if you signal setup is identified and the the next candle hits that 11% you would want entry on the open or close of that candle (just make sure your clear on the entries with him because he usually does it all close to close)
Yes, the key levels I assume, they look different I thought it was a custom fib. How do you get the fib to remain like that instead of the default so whenever I open the fib I dont have to readjust the levels manually
Ok cool I will make note of that. Open a chart, right click and go Chart Properties, then Drawing tools, Fibonacci Retracement and set it. When you set it from here the chart will remember the settings.
ok thanks, what are your fib settings? they are fib retracements correct? not the fib expansion
Yes raging they are fib retracements.
do you have a certain setting with them?
These are the settings that I use.
This short is holding steadily and nicely. Early TP 1& 2 Hit on GU and we are not at the support of the high of last month (1.6175), which needs to be broken for other targets to be achieved. We are also now resting on an important H4 trendline.
http://img708.imageshack.us/img708/173/gbpy.jpg
EU H4 setup triggered and now seems ready to fall. Important support and counter short setup at 1.3782. So this level needs to be smashed for us to hit or break even point and lower levels.
http://img23.imageshack.us/img23/4259/eur2s.jpg
AU still lazily creeping, but there is opportunity to short this pair based on where price is at.
EUR/USD still good to sell?