Trading EUR/USD & Majors, Longer Term

You are still ok, we have to break 2550 yet.

Aj

I do not post during large scale releases. Good luck.

AJ

ok aj see ya. green pips as usual

LOL

It's safe to say the news has leaked.

BINGO!!!

Cable had since failed to breakout longside & seems like the bullish move yesterday was the case of pricing in as mentioned yesterday. Nothing new really, this had been done many times before in the past.
I will be looking for a fresh entry for short once my 4hrly candle closes withing the channel. Should offer good risk reward.
Anyway, we shall wait for a confirmation before pulling the trigger. Nothing is certain in this business. Good luck.

nice job with fibre aj. you the man

The 4hrly closed within the channel. I took the position with 0.4
short@4116 sl@4385
No tp. sl will be amended periodically. First sl amendment target 4000.
Good luck

Hi wb

What is the significance of 1.4385 level at which you are placing your stop?

hello howard.

Regarding the stop. 4350 - 4600 levels had been key support & resistance level. I took 4385 as that was the previous high before the price went through my sma. Other than that, these wide stops I've been using acts as a safety measure for myself. Should the trade turns against me or a change of trend, it allows me time to reevaluate my position. Should the trade work in my way, if you follow the trades I've been making, a move between 100 -150 I would have already amended my sl to +ve.
Hope that helps. I am off to bed. Gnite & good luck.

As expected, dragon is still trapped in the wedge & we are still waiting for confirmation of a direction. Buyers were rejected hard at the 141.7 level yesterday as they were knocked hard back down over 300 pips. I was wrong about us being able to get in for a trade when I said we should get a direction within a couple of days. That was 2 days ago! Lol. So again, no trade for this pair & with today being Friday, I think we can put the guesswork to bed for the time being.
This is solely my opinion. Trade at your own risk.
Good luck.

I have pulled the plug from the last trade call I made for cable. Reason is obvious, price is choppy and the last 8hour candle failed to close within the channel. My 4hrly cci is creeping up into the +100 level, early signs of what would usually be a surge up. Cut my losses & closed out @4135, bearing a -19 red. Sitting on my hands for the time being & will wait for London before deciding. Good luck.

Timely exit, system worked like a charm . Cable should climb further after a pullback. We'll wait this one out and weigh our option before making an entry again. Cable will have to break clear past 4265 before we consider long. Failure of breakout, we'll consider our short options. Good luck.

moved again? oh well

laromanell mate. what do you think? feel free to give your thoughts & analysis. cheers

At the moment I'm looking to the possibility for a short position for dragon. It is currently looking to test the trendline on the 4hrly ( please refer to post #99 on page 7 ). I'll wait for a clear breakout before loading up. Periodically I'll add up if the daily wedge is broken.
I will post up a chart later.
Good luck

Has AJ been banned?

For those interested to short cable. I have took a small short position @4215 sl@4350.
Took the position based on the 3 black crows formation presented on the hourly & the 4hrly shooting star formation. Higly risky trade but worth a shot nonetheless.
Will post the chart later. Good luck.

Here's what is catching my attention on the 4H chart.

The last candle was bullish and broke through the 50 EMA.
The current candle has gone down to retest the 50 EMA.

My 4H candle closes in 45 minutes, I think that close will tell us where we are going.