EURUSD

Wow EU rolled over nicely last night...London was the juice...I had a few small Longs on a 42 counter but were S/O ... lol....BTL of the Triangle broken as well....on lower

I am impressed about your post. but, i need the amount you assigned to your lot? for achieving this result?.

a retrace if any, can take us back to 4120, SL 4056 on that trade.

its dropping too fast.. I cant load up more

1.18?



Now there is a forward thinker.

CAD housing starts in 15 minutes. Watch out.

look for an ab-cd on h4 and lower your sl. ema200 on d1 is another bet.

gonna take a long from 1.4027, from S3. Glad i got the downmove since last night. good start of the week!

There might be bullish divergence developing on H4 chart, depends where we close.
Previous PA indicates that, that might be clue , might be not...

Seb

What time frames are you following? Since we're in a downtrend now, let it run 'til the train stops running.

If you want, take profit for one of your positions at 1.40

Bottom part of the bearish channel is here...

http://dl.dropbox.com/u/6220589/bearish%20channel.jpg

double lip below...4036/41...dont really think I'll try the catch the falling knife act, but....key area....

weekly daily 4hr, entry 1hr, triggers/drivers 15min

only entry today 1 geppy 1 cable 1st triggers after gap closed

with a mute bounce.

lol

Are you biased?

A couple of people say the market cannot be predicted, it can sometimes and I do it. Thoser of you that want to use cycles I suggest you read about Ganns, 20,10 and 5 year cycles.

The way I use to trade is radically different to the way I now trade. Cycle or no cycle, I look to go long or shrt when the market confirms its going my way.

Lets say I get a cycle today for instance on the EURUSD its dropping like a stone no good for buing although I did try to this morning in a trading contest, foolish I know this does not work why do I do it. Gawd knows, ok so we have a cycle how do I trade it. Well I look for confirmation on the H1 chart. Spikes, resistance trend lines in fact all the things you do already in your trading, except I look for them in specific time periods, rather than all over the place.

Once I get the signal of a potential change I look for the market to prove it by reversing and going in the opposite direction. Now you could say well thats the way to trade, cycles or no cycles, I would have to agree with you there. Do cycles work, yes certainly sometimes, do you trade them blind absolutely no, you will lose. Cycles are just another weapon in your trading room, use them with care and they will sharpen your trading immensely.

So please see attached chart for the potential turn and price levels for the EURUSD BEFORE the fact. I don't know which price level it will hit, all I know is that on the line a bar or two before of after I am looking for a EURUSD turn. Will it work I have no idea, all I can do is observe what price does after it gets to this point.

To the doubters all I say is open your mind to the possibility you don't know it all.

Good trading


Mike Haran

Interesting haha, seems like we use the same timeframes - except you are a better trend trader than i am. I've been taking swings lately and usually with one position (10k units), hence why I couldn't let some of them run. Good luck!

1.18xx .

Agree on the importance of that 1.40xx. Last move down breached to LL on daily and we are park at key levels now but need a FA to trigger downtrend daily (I would prefer a sustainable trend down, and not a panic down but irrelevant for the level).

Again the ball in the hands of politicians in Brussels (meeting at close door like always with all big fishes including the puppet master....)

The last 3 times they managed to "convince" markets to not break down but they are running out of options and credibility. Some kind of fiscal union bla bla with euro bonds and openly accepting Greece default seems like the only way out in my books.

Meanwhile banks getting hammered in Italy and across the EZ and euro flirting to break down (I am talking real break down monthly/weekly/daily not the current wave down)

sisse