Was just about posting an analysis on the EUR/USD PipBandit. I took a re-entry on shorts at the PVSH resistance at 1.4560, which may hold as strong resistance for further selling. For higher pullbacks I am watching that 1.4650 level as well. I think EUR/USD is looking for the1.4300-1.4200 target levels shown below.
Got a re-entry on the EUR/JPY H4 PVSH at 117.00. Sorry about the late posts, at work. This pair is shooting aggressively for 114 to 113.00.
A rather interesting picture on the EUR/JPY WEEKLY Chart.
GM all! Trade safely today NFP traders and have a great weekend!
I must admit. I cheated and traded today 
The setups were just too beautiful not to take. My EUR/JPY Long triggered at 115.34. Expecting a strong buy at 115.50-114.90 off the weekly PVSL shown in the previous post.
EUR/USD Long triggered at 1.4385 (closed at breakeven).
Enjoy your weekend!
GM All!
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GBP/USD sold off our anticipated sell level and is on its way to its first target at 1.6300. We currently have a PVSH sell setup at 1.6430-40 on the Weekly chart. I am looking forward to selling retraces to this level for continuation towards to 1.5930 and lower, to 1.5658. I will continue to hold bearish until price says otherwise.
EUR/USD sold aggressively off our trigger level and achieved target 1. We are just about at target 2 and from the looks of things we will achieve 3 & 4 this week before any notable pullback. Immediate Bear pressure may prevent retracements above 1.4350 so I will also be watching this level for shorting. Preferred level for shorting this pair is 1.4500. This pair is looking like it wants to trade below 1.4000.
NZD/USD also sold off well, achieving its first target and coming a few pips shy of they 2nd target level. Expecting a pullback to the 0.7920 H4 PVSH resistance for continuation. This pair however has a counter short setup at 0.7877 resistance of the H4 PVSH, that needs to be watched. Closure below this level however will present a great opportunity for shorting.
Happy trading this week!
Hi All,
The markets have opened this week, still showing bullishness on the dollar. H4 PVSH short setups prepared lower on the GBP/USD @ 1.6380, NZD/USD @ 0.7920 and EUR/JPY @ 116.30-50. Bearish trend may continue into next week and possibly for the remainder of the month.
Holding short on these while price trends lower.
GM all,
Went long on friday evening on USD/JPY. Currently sitting on +20 pips. Closed on of my lots and moved Sl to BE. going to let the other lot ride out see if it hits my TP2. price has stalled at around 80.80 which seems to be a long term support level. fingers crossed this could hold and we could see a lovely trend reversal.
I also notice that we are at a Fib level at the moment on the GU going back to the swing low at the beginning of april. will be going short if we get a good move below it. seems like the commodities are being ditched for the greenback again?
TWHM.
GM TWHM, I was hoping you took your USD/JPY Long. It was a very good setup. Good Trade!
EUR/USD Short also triggered on H4 PVSH of April 10,2011 @ 1.4445.
I’m glad i took it too :D. but i must say it was good advice about waiting for a signal.
Cheers
Indeed it is good advice to wait on a signal. But at the time you saw the trade the signal had triggered to the pip. I almost took it, just that I do not trade that pair.
Cheers!
short triggered on GU. and already +15 pips! SL to BE.
Edit: Already hit TP… oops. oh well. another +20 pips for today. looking for somewhere to get back in.
Ok Traders, our swing shorts are delivering nicely on all pairs so far. Remember to manage your trades and Keep It Simple!
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GU short re-entry triggered at 1.6303. +26pips so far. aiming for ~1.6240.
USD/JPY lot closed for +15 pips unfortunately. was hoping for more but dont want to be greedy and end up losing those pips. Its fairly flat at the moment anyway, so re-entry shouldnt be too difficult.
That live account is looking closer and closer.
Edit:
TP on GU short at 16280 for +23pips. Got stopped out unfortunately. Could have had ~+30 but there had been what looks like a retracement to 1.6325 :28: good thing i moved the stop up to protect the profit.
Going to call it a day for today and review my trades when i get home. Hope everyone rolling them in, and see you tomorrow for another day
Nice trading, grabbing some decent pips today. I would say that the picture is a little mixed right now on USD/JPY, anyway - we have a symmetrical triangle on the Hourly chart, for instance, which pretty much sums up my view on the pair. We have had a concerted downtrend, we could now be looking at a trend reversal or a stall/retrace prior to continuation of the trend. I think you did the right thing grabbing 15-20 pips and closing the trade, then looking for similar again. I will be avoiding big pip targets on this pair until the current noise sorts itself out a bit, which might not take too long in any case.
Anyway, sorry to but in, hopefully another view helps, nice trading & very glad that the live account feels closer!
ST
Hi All,
Hope you all banked your pips on the GBP/USD, EUR/USD & EUR/JPY Shorts. Had a nice net profit of +323pips on all three. Will see where we are at on Thursday.
Closed the NZD/USD at breakeven. Price Action was contradicting.
Happy Trading!
Hello All,
Bank, I have a question about your method. I was reviewing your first post and I noticed that you dont use any indicator that shows long term trends. For example, ever since I started trading, I have had the 200 EMA on my hourly charts, and 50 EMA on my daily charts. Is this something you have considered and then scrapped or is it even needed?
Today the BoE announces its quarterly inflation reports, so I will not be trading until later, after everything has settled down again.
GM TWHM, No I do not use any trend indicators at all. What I use to guide me is the major or three major support on the higher timeframe as my longer term target(s) and if the trend continues. I continue moving up timeframes and applying the same principle.
For example with the EUR/USD drop that setup on both H1 and H4. The third major/major support was 1.4200-4150, so this area becomes my longer term target. I also fib the low to high of the entire previous move, in this case the entire up move that took place before, and look for convergences between:
- these and other support levels and
- the fib numbers: 20%, 38%, 50%, 62%, 80%, 100% and
- the target fib numbers: 89%, 100%, 144%, 210%, 233%,261.8%,377%
Some persons, though, may feel more comfortable using an EMA as the trend guide, rather than drawing fibs so it depends on which you prefer.
Oooops most importantly, I use trendlines.