EUR/USD 5min - Trendlines and Pivots

http://i288.photobucket.com/albums/l...g?t=1288103180

Out breakeven

Bit of a triangle/pennant forming, would like a break down.

Short and would like 43 ish.

Stop at breakeven, this will be my last trade today... hoping for a strong end to the day!

+29!

That has restored my confidence. Chart to follow.

Not the most obvious triangle/pennant in the world but you get the idea. Note also the hidden divergence. MACD making higher highs while price makes lower highs usually means the correction went too far and a big move is coming in the direction of the trend.

Of course... If I just took a short on the hourly wedge pattern last night I wouldn't be trading this late... Or just left the short open from this morning's 5 minute wedge for that matter. Hindsight

http://i288.photobucket.com/albums/l...g?t=1288106253

Daily total = +29.9

By the way... if anyone wants to check into the thread, please say hello. If you find anything useful or you think my trading is a load of rubbish, I would like to hear from you. Also if you think I am missing a trick somewhere or making some newbie errors.

Couldn't resist a quick short from 1.3870 (simple trend line break) but was taken out break even by a whisker. Should have waited for the retrace which would have been a good trade.

-12.6 on a minor trend line break and supporting divergence. Forgot there was news out at 9am, the trade came good but my stop was a pip too tight.

Clear break of a channel upwards, currently long from 15, will move stop to b/e at yesterdays low if we get there.

Came out break even.

http://i288.photobucket.com/albums/l...g?t=1288169400

Missed a break of that narrow upwards channel while posting.

Took another -10. Lots of fast erratic movements, so I will take a step back until there is some more stable movement.

Triangle forming, will look for a break.

Short on a trendline break, will look for S1. If this goes against me then I will finish for the day.

Stop at breakeven and will look for 1.3797

Chart

http://i288.photobucket.com/albums/l...g?t=1288178122

Closed at 1.3800... +30

We had the touch of an upper trendline, a pinbar, strong divergence, followed by the break of a trendline/bull flag. It was worth holding on for a little more and I think this pair may make fresh lows today.