Hey King, I’m watching this for a good short entry. You entered without waiting for a good candlestick formation. Are you just going by the trendline and the 50.0 fib? You’re looking at the Daily, I’m working off the 4 hr.
condor
Shorted EURUSD at 1.3135.
Entry: 1.3135
SL: 1.3175 (40 pips)
PT1: 1.3075 (60 pips)
PT2: 1.2930 (205 pips)
If the market moves 40 pips in my favor, I’ll move my SL to break even.
Lots of EU trades today I notice. Here is how I have been looking at EU from the 4H and waiting for a proper setup. I think the chart says it all. If an appropriate bearish setup presents it self I will short. If it passes the 61.8 I will look again when it gets around 78.6.
I fear entering a trade over the weekend. Also all of my analysis could be completely wrong as I am new to this method. Looking forward to others idea’s or criticism.
Stopped out for 2x40=80 pips loss.
Was there a candlestick pattern when you entered? I’m still waiting for a short entry on this, with the candles indicating a reversal.
Hi there,
I posted this earlier this morning and will be posting more alerts and updates as and when they come up.
Happy trading.
Hi Obaasima,
Just to be productive, could you post pictures of your up coming trades and maybe a reason for them.
Juicyt
Assuming that it directly relates to the thread authors method and strategies I too would be interested. With 200 pip SL’s I am weary though.
On another note:
Still eye balling EU - it has since reached the 71.2 fib area (actually slightly past) and still looks to be pushing forward. Is this a fundamental climb? I’m still not sure that we couldn’t see a evening star formation form or something similar, but being friday… who knows. Just a quick review of the recent news related to the USD I am thinking that this might be fundamental. I definately would not enter into this trade without a VERY well formed bearish formation.
Remember that the worst enemy a trader has… is him self. If you have recently entered on EU (which I agree has been incredable difficult not to) you most liklely have lost some pips. There has been no formation that signals a reversal (at least not on the 4h) so just sit on your hands and wait for it.
Most technical analysts forcasts for the day show the E/U continuing to climb. Something to take into consideration… but in the end just follow the system!
No, I didn’t enter on a CF. Perhaps, there will be an opportunity to short EURUSD at the test of an outer TL, towards which the price is currently moving.
A bounce would be a great trade to start off next week. Right now I see indecision on the 4h as at the moment a doji appears on the 4h with still about 45 minutes left in the candle. We all know how these Friday closings can do strange things… especially in this pair… I am sitting out until next week. There will be plenty of opportunities for another day.
Enjoy your weekend all.
I placed a sell limit order at 1.3340 with SL = 50 pips away from the entry and first target = 100 pips. This level founded some resistance and support in the nearest past on H4, and upon reaching it the price will most likely test the down TL with the retracement slightly exceeding 61.8 Fib.
Entered at the test on the down TL (15M time frame - the first uploaded chart) and after an evening star has been formed on 1Min chart (second uploaded chart).
The inner trend line is broken and now theres a retest forming a bullish crown. I’m anticipating a rally to the outer trend line hence my Long entry.
See chart below.
Defently looking into buying this puppy look at the amount of support that has been buildup around this area …defently looking sweet to buy. Keep in mind we are making a left shoulder . Move stop to break even when you can since support is yet tohold for more then one move for the past couple of weeks…
I am yet to take a trade this week since many of the extremes moves have just ben spikes to the market so I have to manage it a bitt with caution and have stepped aside waiting for very good price action.
Looking foward for price to climb up so that I can sell this puppy back down…
I will be watching the market as it climbs to that area and what type of price action we get.
I am nu in here and I am a forex trader who is a beginner. I would like to meet a forex trader who is next to a master in the business that can also put me through.
Please people! I need ur response.
I really don’t want the thread to get off topic… but I had to ask…
Really?
This is a possible UJ entry that I have been watching. I entered based on the 1h showing an evening star… I did enter without validation though so not really following rules. Non the less it could still be a good trade:
