Update
My eur/usd sell order has activate on the 50% fibo, i have placed the stop loss just 10 pips above the level. Once price move 15-20 pips in my favour i will move stop to breakeven.
I had sort of the same sell setup on my 5 minute chart triggered and banked 17 pips from it. Since I am not awake usually - I add TP / SL to the orders that I cannot manage…
I’m with you on the overall look of the EURUSD - I still think we are on the 50% back of the move… Here’s my 1H chart - also notice the trendline coming down… #Sandy has an effect today in NY markets, so I’ll be extra careful out there…
Will continue to look at charts during the day!
** Night Update **
This is what I’m seeing tonight before I get to bed here in the east coast!
My trade was stopped out yesterday as price broke thru 50% fibo and went all the way to the 200 sma before coming down slowly. We could have a change in bias for the day.
Daily Fiber chart
Engulfing formed on a trendline, its the same place where price has refused to pull any lower in the hourly chart.
1 hr Fiber
Cross the 100 sma, broke thru 50% fibo. I’m waiting for it to retrace to the area i mark out before resuming the bullish momentum.
I saw it broke the levels over while I was asleep… Still in 2 shorts… I went up to the Weekly chart to see how it has been behaving! The 1.3030 level has been strongest for the last 5 weeks… Will see if EURUSD wants to go there and play today!
** Update @ 3:00PM EST **
I was able to get out of both my shorts and profit… Seeing the levels at 1.3000 and 1.2955… This is my current 1H chart…
On a different note: found a nice service online at www.tradingview.com - if you need to do charts online or something. I have signed up (it’s free) and was able to also work with my iPad! Hope this information helps!
:0)
Didn’t really find anything worth mentioning today, euro has making quick mark ups and downs without really retracting. Today is also the NFP release day, i expect markets to be quiet till then too. This news usually bring tons of volatility, i may just avoid it all together.
Good luck to you sliver.
Some sort of break out on the 1H and 5M happening… Charts show the way! Actually today Nov 1 @ 8:15am was the ADP NonFarm and tomorrow @ 8:30am is the NFP report. I usually try to stay away from it and either skip it or trade around it… Anyhow - I’m flat since yesterday - might be interested if we get up to the 1.3000 levels and short that one more time if EURUSD can’t hold it! Will probably be the same play as before - holding the down trend line!
This is sort of what just happened around 10:30 - 12:00pm on the EST. I was able to jump on the down move!
Silver
PS: I hope I’m not hijacking your thread! We just have a very similar approach and I like to keep sharing what I’m seeing and bounce off ideas!
No worries Silver! The idea here is to share different insights with similar approach, it’s always good to be open to what other people are seeing too.
I tend to be quite picky with the trades since im using a very tight stop. How big are your stops usually sliver?
Well - it really depends - I am starting to just do better setups. So when I commit to a trade - and the setup is what I wanted - then the stops are usually less than 30 pips… Sometimes 10 pips sometimes 20… I’ve had bigger stops - but really - that’s a bad location for a trade (truly)… Some trades - I might scale things up a bit… If I enter on say a 38.2% retracement and it goes against me - but the price action is saying something else - I might go back at it and do another small position at the 61.8% if everything is saying down… But - I am just paying attention to what the market is saying. All in all - I’m in for up to 2 or 3% of whole account on a trade. If I loose that - I will stop for the day - and just look at better setups and start again…
I believe it is all in the positions that we take and not be stubborn with them. If the market went the other way - and I can see it the other way - then reverse and go after the market… They have much more than me and I can tag along for the ride!
Silver
This one is for cable , 50-61% fibo and the 100 - 200 smas together . Potential support area with sto oversold
1 hr cable
Good luck
Today’s chart on fiber, after a long downtrend price finally retracting to where i wanna see it. 50-61 fibo area and a previous support turned resistance.
1 hr fiber
It does look good for a short and the risk is very well defined! I’ve been trading other pairs this start of the week - but had a couple of good EURUSD trades for profit… Some weird movements but hey - elections…
I got myself out after 2 hrs before london close, trade R:R was 1:10 pretty much close the week with this trade. Thursday is interest rate, so i wont be touching it. Unless i see something solid on the chart this concludes the end of the week for me.
Oh - okay - so you bought on the UP side - yeah - I was looking at that this morning. I got in late to the party! Well - I’ve got other trades going - mostly everything is stalled now - as it should be in the late hours of the NY session… Will see how things move tonight when I get back home from work and projects!
Yea i usually open my chart and analyse 2-3 hrs before London session opens, I find that looking at what price during asian session has been doing gives me a idea on what will probably happen later on. I’m not trading today , but i found something interesting here which could gather a huge attention.
Daily Chart Fiber
Price has stall twice now on the 200 sma and now even the 100 sma and 38.2 % fibo area is near the area, since this is the daily chart i expect a huge reaction here.
I’m in a trade - but I’ve been thinking long here… What you see?
PS - the charts look great on my side but when I post them they are all really blurry, any way to fix that?
Looks fine to me, but I’m usually off chart until tue cause i believe price are usually quite unstable during this time for my strategy.
As for the size of the chart, mine are just as small as yours lol. I try and see if i can make the chart bigger next week.
Okay - awesome! Another thing we both agree with - price usually is moving - but I am expecting and looking for other things! Always telling myself - if I know the risk I am willing to take - when the losses show up - I’m okay! I think the charts is just the way the board uploads them here!
Sad there are not other people commenting or showing what they do on this thread as well! But - hey - live goes on!
The only way to fix it is to upload to a pic hosting type website, then paste the url in your post using the tags.
Any site you recommend?