EURUSD

possible nice pin bar (head and shoulder) on daily chart might confirm a rally upward be it large or small....

Where can I check todays USD trade balance result soonest? Is there any link to site? thanx for answers .

I think I'm seeing a head and shoulders pattern developing on the one hour charts with eur/usd, that might complete with a down trend in the next 12-15 hours. Is anyone else seeing this?

All I see is a nice trendline uptrend.. and I went short at 1.2771

hmmm....lol...okay, well I'm short at 1.2772 so you're not alone.

Well yeah you have hell lot of money .. i dont have it..

Whats your SL point?

Or maybe your trade is on Demo, but mine is real..

I don't think you're in too much trouble. I think we may have a 1-2-3 reversal on the 1H which would put you in the money. In the meantime, I would put you stop at 1.2590-95 and turn off your computer. What was your reason for taking this trade so early?

andersenws

I took it cos at that time the stem was real long, I should have waited for day close, that stem dosent look that long anymore..

I don't understand. It's only at 1.2782 now, thats just 11 negative pips. Why would I need a lot of money for that?

I don't use stop losses.

I entered the order because *takes a deep breath*, the osma average with a slow of 48, fast of 1 and signal of 48 crossed below 0. lol. Out of the last 22 trades over the last 6 weeks, 16 have continued significantly in the direction of the osma average cross within 31 hours. The other 8 trades ended close to the open price, with a maximum loss of 21 pips.

So within 31 hours we should be well below the current price, Forex-God willing. lol

Well you dont use SLs... dosent that say you got lot of money to sustain losses.. it can go up till 1.2840-80 before reversing.. i will have to cut short at around 1.2810-20...


If it falls from current level, it will be forming double top on daily.. and a shooting star sort of pattern for second week in a row on weekly..

I see what you are seeing on the 15 minute chart. It has the potential to play out but I dont take such trades until they break the neckline.

oh, an one more thing. I dont play these patterns on the 15 m unless it is during a busy market with lots of players to drive the trade.

well I have strategy where I don't worry about that. For example today I sold around 8 at 1.2755. The price immidiatly went straight up 60 pips, but I didn't close because I knew it would come down, and it did.

Anothing thing though, I probably would have gotten out with a loss at 1.2780, if there hadn't been a ton of resistance waiting for it around 1.2800.

aicccia, I was asking lifetime_trader why he entered the trade because he seemed very nervous about it. I don't question you at all, you sound like you have a plan, and are confident in what you are doing. I myself entered short at 1.2780, and I am confident in that. No one should take a trade if they do not have a reason for taking that trade. Confidence is key.

andersenws

im short 1.2805....

It's not confirmed here yet, but it might-- charts are choppy and giving mixed trends in each indicator..

For EURUSD, it violated my fib 50 but jumping again..instead of breaking lower.

Very choppy until now.

I certainly see the head and shoulders pattern. The trend line begins from Friday's low. My personal system uses the 89 wma (weighted moving average) on the 12 minute time frame (plus a series of 'rolling' moving averages with periods of 4-12, plus 15 and 18). The fact that the price action on the second 'shoulder' occured immediately following a cross below the 89 wma is a significant compounding confirmation once (and if) a breakout occurs to the south.

Are any of ya'll in on the EUR/USD? If so where is your stance and what do you predict for the currency? I think I went short on the EUR/USD too late at 1.2750 with a target of 1.2690. Do ya'll think this can happen or should I exit now because I am down currently 27 pips?

At the risk of leaving myself open to derisory comments and peals of laughter from all the techies here, on the two day chart would the two 'spikes' not constitute an inverse head & shoulders and if not, why not? I can see the head and shoulders you refer to (but not the ears or nose...)