EUR/USD 5min - Trendlines and Pivots

A standard break and retrace, well done if you got it, I wasn't up in time.

http://i288.photobucket.com/albums/l...g?t=1287736508

I have what looks like a pennant forming, I will look out for a break up.

There she blows. Unless there is a retrace I have missed that one.

Should be done and dusted today but I'm still at zero.

http://i288.photobucket.com/albums/l...g?t=1287747916

Currently short on a trendline break. Got in at a terrible price though.

Stop to breakeven, looking for just above open, 1.3927ish

Took profit slightly early for +15. VERY happy with that and done for the day. Chart to follow.

Daily total : +15

OK lets look at the mechanics of this trade. This is primarily for my own reference. It may seem like a lot of undue detail but it's detail that makes or breaks trades. (It should say 'retrace' rather than 'retrade'). Incidentally if I had been greedy and waited for a price below open I would be out break even now. Pivot points are absolutely vital for my strategy. The saying that goes along the lines of 'amateurs focus on entries, pros focus on exits' is something I am very cognisant of. How many times have we been greedy and held for the figure that we have in our minds, only to be stopped out?

I have now exceeded my weekly 'average' target of 50 pips or ten pips a day, so I will be increasing my lot sizes next week according to my trading plan.

http://i288.photobucket.com/albums/l...g?t=1287750596

Charts off now enjoy your weekend folks and see you on Monday.

Looking for a short below the 5 minute trend line if it happens.

Now short and can hopefully make it to R2.

Theres the drop, stop now at breakeven.

+12.9 chart to follow.

Note divergence on MACD also:

http://i288.photobucket.com/albums/l...g?t=1287994363

Would like to finish for the day now but I will keep the charts open while I get on with something else and will trade any good set ups as they appear.

I have R2 and MR2 intersecting a declining channel, they might be good for a short or long respectively if they hit at the right time.

Would have been a great trade actually, but I didn't take it. I needed the trendline and pivot to be a pip or two closer together.

http://i288.photobucket.com/albums/l...g?t=1287998986

A break above this channel would be good. Zoom out and it looks like a bull flag.

Now long with a fairly tight stop. Looking for 1.4067 ish.

Stop at 1.4036, this one's not looking great.

Still in this by the skin of my teeth. Stop placement was just below R2 in case anyone was wondering.

Stop now at breakeven. Still looking for 1.4066..!

Will close at 64 if we get there.