EUR/USD 5min - Trendlines and Pivots

Don't really know anything about harmonic trading but this looks a hell of a lot like a 3 - drive pattern...

http://i288.photobucket.com/albums/l...g?t=1288274742

Currently short on the break and close to getting stopped out. SIGH.

Stopped out for -13. Stupid. Problem was I didn't wait for a decisive enough break of the trend line.

Will have to end the day with +4

I would consider this for a short.

http://i288.photobucket.com/albums/l...g?t=1288286414

Currently long on a trendline break and divergence.

Out break even

Currently looking for a break up of this triangle to the DPV ideally.

Missed the break, will see if we get a retrace

Missed the retrace entry by a pip.

Just have to clear the 200ema, Weekly support and daily pivot.

Chart. Entry was going to be the green line.

http://i288.photobucket.com/albums/l...g?t=1288354630

Looking for a break up now

http://i288.photobucket.com/albums/l...g?t=1288360041

Stop will be at break even if/when it gets to MR3 (1.39ish)

Stop at break even, target 13913.. upper triangle trend line.

Out for +24, if this breaks up it will go into the stratosphere probably

Don't need to post the chart for this one as it's in the last one, the entry/ exit is a no brainer.

No more trades today... total lack of discipline yesterday... !

Guessing this will meet some resistance at 1.39275 before going to 1.39696?

Nice bull flag...must stay out must stay out.

hi mysterio

your thread is good, i think i'll follow u bcoz i am using eurusd

thanks

Thanks for your input Sami, great to have a visitor.

I still feel like I'm on a steep learning curve, hopefully we can learn together. One thing i'm surprised about is my trading has become dominated by trading patterns (triangles, wedges etc) which I used to think were nonsense.

For me focussing on EUR/USD is the way to go for scalpers, otherwise the transaction costs (spreads) are just too high. Your 'edge' needs to be far greater otherwise. Short term trades suit my style too - these methods arguably work better on the long term charts but I just can't relax with trades running, I would be checking my broker's app on my phone every two seconds.

Here's how it looks on the four hour, 1.4010 ish is a good bull target for tomorrow before reversing to the 1.37's, of course if we have a four hour candle close above that upper triangle line/bull pennant then we could be back into a trending market.

Happy Halloween by the way

http://i288.photobucket.com/albums/l...f?t=1288542680

A break down of a small rising wedge there but I missed it while i was making breakfast... Fridays high and MR1 is a good target.