fxswing - Trading notes, analysis and market thoughts

Eurusd breakdown point at 1.4746.

I want to see a 5 min close above 1.4746 before going long again or eventually if we go lower a trendline break once we trade below 1.4719.

Unless that happens I'll sit on my hands...

Pivot at 1.4701.

First 5 min candle closing above 1.4746...

Long Intra-day 1.4746, target the top.

Let's see if we'll have the classic wash and rinse cycle

Out of intra-day long at 1.4779 for +33

Exited at the developing value high for today that sits at 1.4781 now

Now flat, looks like we'll have some consolidation job to do, before deciding where to go, next.

1.4792 and 1.4719 will be critical. Perhaps we'll consolidate in this range tomorrow...

Lots of action during the Asian session lately... I need some sleep market !!!

We got a breakdown below yesterday's value area. This has the potential for a reversal, so downside action should be monitored carefully.

1.4751 / 1.4771 are potential upside rejection zones if it's a reversal.

If we're consolidating, then we have some potential supports below:

- 1.4713 S1
- 1.4705 This week 50% range retracement
- 1.4698 Last month POC
- 1.4687 Nearest VPOC
- 1.4653 S2 and Last week value high, that was already tested Wednesday - Confluence here -

Until proven otherwise I will take the consolidation scenario into consideration.

We touched 1.4771, now what ???

Will monitor yesterday's value area 1.4751 / 1.4793.
1.4765 the pivot.

Rejection of 1.4751 could signal reversal.

It's Friday, no need to bet the farm will trade light size for the US session.

Smelling a good potential juicy short opportunity

My trading plan don't allow me to short on my main account because of the daily trend.

But I'm taking a backup account and will short the hell out of Eurusd.

It's a counter trend and rule breaking trade and it should fail, but I'm eager to take the risk.

Short entry @ 1.4766

Target @ 1.4622

Stop above yesterday's high 1.4818 (discretionary mental stop), first alert would be above 1.4792.

Let's see if I smelled it right

Setting Stop at 1.4766 B/E.

Eurusd must not come back above 1.4751 or the trade would be a failure.

Let's see the reaction (if any) at 1.4719 and S1 1.4713.

Added to short 1.4731 with a stop 1.4755 for the add.

Target still 1.4622.

Added short at today's developing POC.

Stopped on the add 1.4731 at 1.4755 for -24

Added to short at 1.4751 again (last try )

Having 1.4766 + 1.4751 shorts now.

Stop on the full position 1.4766.

Covered all shorts at 1.4694 for +72 +72 +57 -24

Not bad for a counter trend trade.

Time for some week-end fun !!!

USDX confirming it's downward channel ?

Eurusd looks to have found support.

Will we close the weekly above or below 1.4719 ?

Hi! I really like the way you trade and you are the first person I have seen to use charts like this. What kind of charts are these? Where can I learn about them and how to use them?

I will definitely keep reading this thread. Thank you for your help.

Hello Lost1,

My charts are based on "market profile".

I really love those charts as they give great information and good reference points to trade.

You can try this site, to get you started with informations on MP charts and theory.

Have a great week-end.

Expecting market to stay in or around last week value 1.4780 - 1.4676.

Will short HVA 1.4751 and go long LVA 1.4707.

Will watch 1.4792 Monthly HVA breach, as bullish alert.

Will keep some 1.4751 and 1.4729 shorts to try to shoot for 1.4622.

We could see a 10.000 Dow test today... a perfect day for that ?

Back in the same short that I made Friday, same account same parameters...

Short 1.4766
Stop 1.4792 +
target 1.4622
Counter trend trade made with backup account.

High probability that it will fail