Circular Trendlines

Here is the GBP/USD outlook that I will post from now on, though EUR/USD will remain the #1 posting

Cool brother
I trade e/u and g/u only
Now we both Do

Thank you very much my brother...Whatever it is I want some...

very very important next 80 Min
I locked my profit which is my weekly target ++
and 3 position still in Play
Mostly the day will close @3465 let's c

Agreed
EUR might experience a bounce upwards. Better to stay out of any trades for now.

Here is another thing that got my attention...

I'm done with this week, Book closed.
My plan for next week are Ready "Entry and SL -TP"
Hope we can talk tomorrow bro
Cya all

My Dear Brother, if the euro had touched the 3350 is there any sign of the bull position ? or.....?
Happy weekend...TY

Please read this:
You are the Best one can tell when u buy and when u can sell
Depends on you Time Frame u trading and MM u use.No one else
All i can say :Trend is Down

Thank you brother Egkid & Kambooj, I am play in the TF H4, ... so it can be left...

because I still have the entry of 09/27/11 @ 1.3648 ... I have not closed...

I know it looks bearish but
I closed all my shorts [email protected]
Reasons:
1-Everybody in sell and if drop mean all win
2-Lock my profit
3-Very important news this week
4-My 4H suggest up move "Will post chart later"
4-I will sell again if my view right but @Higher Price
If I'm wrong It's ok i got ++ and chances never end

GL All
Cya

Sorry to answer a bit late, but I wouldnt go bullish yet, unless I see a spike upwards, and then check the retracement on it. You need at least 3 moves

1. spike upwards. Has to be a spike, other than a spike is not acceptable. Reason is as follows:
When a impulse wave which is a 1-2-3-4-5 wave count ends, the indication of its ending is that the 2-4 trendline will be broken in less
time than it took for the 5th wave to form. Thats the first indication that the impulse is over. This break of the 2-4 trendline is always
a spike. If you dont see a spike then chances are that its still continuing and you are in a extended wave pattern. In such events a
5th wave extension impulse wave is very common. And they are very tricky because what looks like a 3rd wave extension impulse wave
will turn into a 5th wave. The trendlines will form the shape of a megaphone.

2. Retracement after the spike to anywhere around 61.8 to 88.6 fibonacci level.

3. Another move upwards which makes a retracement that creates a second lower high.

By this time you have the Low Low, and 2 lower highs. You have a uptrendline established and its much safer to go for a buy.

Usually the 5th wave of a impulse wave is the most dangerous wave to trade. The reason is because of a phenomenon called the "5th wave failure". In this situation the 5th wave fails to finish off in a mature way, and it fails. The failure results in a huge bounce in the opposite direction which is very very severe.

My own personal choice is not to go in for a trade, when I suspect that the 5 wave counts are over.

If the daily time frame is saying down and the hourly time frame is saying up, I rather wait for a bit more clarity to emerge. Because reversals are always very stressfull trades to choose.

Here is the view for the EUR/USD. probable upward reaction will occur anywhere in the vicinity of 3260-3320 region.

Be carefull of going short at the moment, and give yourself some time. Although if you are short you still have a chance to make a slight profit, or come out at break even. If a upward reaction occurs it will probably go up to the 3800-3900 region again.

Here is the view for GBP/USD ....

More on what to look for if you decide to go long...

This is another example of what to look for when you decide to go long. You could have gone long after seeing all these signs, or even better, not to trade and wait for the same signs on a higher time frame. The choice is entirely up to you. This is just a example of a observation.

Once again thanks my brother...this 2nd sell...

So far selling is the only way to go,

The only hope for it to bounce upwards was at the 3260/3300 region, which that is gone also. So given the situation if no bullish signs come up, then 3240/3280 region would be another ideal sell spot.

If there are any bullish attempts, then it has to go at a minimum price level of 3380

Today will be rangebound movement between 3150 and 3240. Best opportunity is a sell at 3240 region.

This pair will continue to go down towards the lows of 5300. There is strong support at the region of 5250-5300. If this support is broken we will go down to 5000 level.