Don't know yet but if it makes a HL then I might try and enter again on the pullback

Are you looking to go long again on the re-test of 1.3200?

Closed rest @1.31622

Closed a part & SL moved to above breakeven for the rest Free trade

Long @ 1.30547
SL 60 points

taken a small short at 36 , would like to see it capped below 932 & 922 taken out...WaveSurfer wrote:

gclark25 wrote:
Yes mate, that would be my advice to keep it simple. But what ever suits really and if your finding success good on you.

GL as always RMc

Did super Mario say something super ?

Rossymc wrote:
Rossy,

I trade using 3 timeframes at least - and thats a rule of mine. I never ever trade off of only one timeframe anymore. I used to, but I missed too much.

I need to look at the overall trend, plan the trade on another, then use the smaller time frame for an entry.

Also with the system I use at the moment, it incorporates sma's, and when they all line up on different timeframes, it adds validity to my trades.

Unless of course you mean after the trade is placed - sticking to one timeframes as not to mess with my mind type thing?

gclark25 wrote:
Clarky

Keep to one time frame

Atb RMc

It is looking bearish at the moment - I agree. I have to re-analyze to see best entry.

Fairly happy with yesterdays trade though - started off @ £5/pip and scaled it down, took good chunks of profit along the way and moved stop to allow a free carry in the case it was a bullish move. Once it broke the stop it confirmed break down intermediate uptrend.

Hey GC, this is downtrending so shorting into the bounces and going with the trend is best......

that flags been broken or just abt sitting on the lower line.

Stopped out for the remaining 1/5th @ 12810

This part is the REAL test of my resolve considering i'm probably a scalper at heart, taking profits quick and fast - which isn't good long term I know!! Giving myself the satisfaction of a profit - but really just harming the chance of being a successful trader.

Its reached the 200sma on the 1H chart, and the 49sma on the 4H chart.

Usually I would take my winnings here at +50 pips - but I am going to go against my natural tendency and try really stick by this!

gclark25 wrote:
Stop moved up from B/E to 12810 - which I take as the Higher Low. If it breaks below that, I am happy to come out of the trade.

letting it ride the wave and will take a view at the end of today.

As a side note - there is the small case of a 200sma to get through which will provide some form of initial resistance - maybe as the peak of a wave (III) within the wave C.

Wave/Diver,

If this latest leg up on the 5m chart is a wave C - am I correct in saying that it should target (approx.) 161.8% of wave A from the low of wave B?

Therefore giving a target of 12880 (which so happens to be the previous high?

Obviously the above is rule of thumbs and has to have a degree of flexibility - but is that roughly how it works?

Hi Diver - interesting thought, however.....

i think your AB is the correct labelling, cant see this being a potential wave 3 up or 2 complete.

if your counting the move up from 1.2 to 1.3, i cant see the 5 waves up to complete a 1 (your B ) - it would make 3 the shortest of the 5 wave impulse tbh honest i'm struggling with that....

imo the move up to the 1.3's from 1.2's is clearly a corrective 3 wave move up and perhaps from 1.5 - a 5-3-(5? in play) sequence maybe a better fit ? prefer your initial count...kind of fits in with current situation - the expected capital flowing out of eurozone after the cyprus stealth tax debacle and dollar strengthening.

rgds WS

First, please ignore the labeling on this chart: the only accurate part is between a and b; even the a and b may well be wrong:) There is a strong chance the b wave is actually wave 1 and the retrace to yesterday is wave 2. Which would make the current data the start of wave 3. Obviously there is no confirmation of a breakout just yet so it's a bit 'wait and see', but, if I am correct then gclark25, you could be riding a beautiful wave

gclark25 wrote:
Took 2/5ths of trade off @ 49sma level on the 1H timeframe.

In the case of a 49sma break, I will let the rest run if it does not break back down below it.

if it gets to 900/936 be worth a short there with 30/40 pips stops - target the lows 700's and then 670's fib level there too.WaveSurfer wrote:

should get a run up on this going into the draghi /ECB press conf on Thursday...watch that bear flag...n drop, flag.... drop, flag ....there's a pattern developing.

dl.dropbox.com/u/40497882/Eur_usd_H%26S_downtrending.JPG

Plan on staying long for the duration of tis trade - although may take 2/5ths off on the 49sma and the rest off @ the 200 sma if it reaches it rather than the oblique resistance channel (Feel it could be a bridge too far and would be happy with ~50 pips total.

This is currently breaking out of the down trend line.
Best wait for a 123 low so one to watch for a potential long???

Rossymc wrote:
Got smacked out for 50 Sunday night. Bloody dy light Savin on Friday cost me! Live and learn eh!!!!

Now hit the gap on the 4hr and bounced. What a surprise!



RMc

This has bounced of 1.28755 support a few days ago and has now formed a 123-low on the 4H chart after a lovely doji. Unsurprisingly it found resistance at previous support and round number @ 1.30 but has since dropped back to test the breakout point for the 123-low at 1.29782 which is where I went long. A close above 1.30 should see further gains and I'm initially targeting the 1.31 area as that's the 161.8% Fib extension of the initial rise:



dl.dropbox.com/u/20815047/EURUSD4H24_03_13.gif

80 onside
Was 100+ therefore 50 points stop

RMc

55 onside and stop BE

RMc

Inverted H + S

clip2net.com/s/4MInA7




RMc

Missed the short for this this Am, damned meetings! Looking for a retest of the neckline to go short.

That didnt last very long. Looks like a head and Shoulders playing out now.

i have just taken a long position on this pair at 13287 - 61.8% fib, with a 40 pip stop which is just below previous support, there is also trend-line support near by.

dl.dropbox.com/u/43650856/EUR%20USD%20-%...20-%2020th%20Feb.htm

up to break-even asap if it goes in my favour.

EUR/USD

Looking to go long on hourly trend line, 13486.

Went long at 13497, hourly horizontal support.

Trendline hourly

dl.dropbox.com/u/21384991/USD%20%28DFB%29.png

Close up

dl.dropbox.com/u/21384991/USD2%20%28DFB%29.png

EUR/USD Hourly.

Anybody looking at shorting the EUR/USD.

Short around 13586. 2 Resistance areas.

Horizontal at 13586
Hourly Trendline 13584
Close to RSI Trendline as well.

Hourly.
dl.dropbox.com/u/21384991/USD%20%28DFB%29.png

Close up
dl.dropbox.com/u/21384991/USD%202.%20%28DFB%29.png

redchilly wrote:
I concur, have been long this dueto the weekly chart too.
Actually buying the Dips

Inverse H&S
Perfect retest of the breakout from neckline
Target size of the head/upper trendline resistance 1.42463

I have a Long position

I did not enter this as theres an inside bar trade to go long just above which has activated.
Im not long on this but the wife is.
I would have shorted this at 1.3486 if it was not for the inside bar trade. cant go against the wife...lol...Never the less it would have been a good level to short on a first attempt basis even if the trade goes wrong.
Ive got no positions in this currently as been busy with shares and getting things to work on the website.

I did catch it a bot late to be fair remo so I wasn't in right at resistance. I went short last night and put my stop above Friday's high as I figured that 1.3480 was the test of that resistance so it shouldn't have got back there imho.

You still short?

ohhhh just read your post and it does not say where you entered from.
I thought your order was at resistances??which is at 1.3486.
so not certain what level your stop is at.

hi jackozy
i think you have been robbed.
your stop should not have been activated
The high its been today is 1.3496
so no where near your stop.
remo

I'm stopped out of this now. Bit surprised to be honest. Ho hum...moving on!

Been a while since I looked at currencies but some look to be getting close to important levels. I'm short on this pair as it's at a clear resistance of 1.3486:



dl.dropbox.com/u/20815047/EURUSDdaily28_01_13.gif

I've got a 35 pip stop on this trade.

Hi Jackozy, didnt see your question earlier, this is the 4 hour chart.

dl.dropbox.com/u/43650856/EUR%20USD%204%...%20-%204th%20Jan.htm

I had been watching the 61.8% fib for a trade and when that didnt hold I
noticed the 76.4% fib, the 1.3000 and trend line were fairly close so giving
definitive area for a speculative trade. Or at least I thought so..

If you check the hourly chart it looks like its in a wave iv correction and ultimately headed for 1.2910ish before heading north again, but it's a bit of a box of frogs just now...

Jackozy wrote:
From what I have read and what other analysts say, there is always the possibility of a failed wave, so I don't think the above statement is the definitive answer. Obviously if a swing high gets taken out then we can expect a termination in wave 5 but i see a lot of failures in other peeps counts.

Plus it could be a weekly ABC, we wont know until the next couple of waves.

My daily trade set up today is to the short side. But I am aware of the prevailing bullish trend line that we're approaching. Trend lines get broken so I will keep my Profit Target quite small.

Hi Broad-rock. Why there exactly?

I went long at 1.3010 earlier.

dl.dropbox.com/u/43650856/EUR%20USD%20%20-%20%204th%20Jan.htm

I'm going to go long on this from the trendline at 1.295:



dl.dropbox.com/u/20815047/EURUSDdaily04_01_13.gif

Any thoughts or comments welcome

I'm long on this from the test of the last breakout point. As Diver pointed out, it needs to make a new high for a complete 5 wave series up before a more severe correction:



dl.dropbox.com/u/20815047/EURUSDdaily24_12_12.gif

hoping the above shows it clearer