Backing Trades Thru Charts

Daily chart reason for my trade
1- No new high since 5 May but keep going Lower
2- Clearly my entry is very good Resistant point , Check my TL on my chart
3- My Target Almost@ Yearly PVT
Just look to the chart

Daily chart entry Above Fib 23.6%
Will change my TP to G/U BIG LOVE WHICH IS
Fib 78.6% @ 1.5650 Always G/U Keep touching this level , SL 1.65

EUR/AUD Your original target of 203 Pips was met. That happends

GBPCHF ... Continue TP 1.3xx

Yes, so was my original GBPJPY target, which I bailed on also...

Best to stick to one's guns in most cases I guess. Ah well, live and learn.

Thanks for running the contest-good fun!

looks like NZDCHF gunning for this gap and maybe more? still a valid 0.886 bat, though stretching it now.....CHFJPY looks a possible buy soon too which is a bet against SNB....perhaps we see another leg dwn in equities

Contest Update:

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Something to look at for next week, a pretty nice descending triangle pattern on EUR/NZD.

3 charts for the current sessions :

eur/usd
gbp/usd
aus/usd

on eur i would still say another 7 weeks +- for rangebound between 1.45's & 1.39's

for the coming week , i am prepared to sell agasint the 1.45's ( just below @ 1.4480's) and will take from there ,and will be looking to buy much later @ low 1.39's.

Gbp/usd- i personally do see a symmitrical triangle develop here- ( still early stages) so i will play with cautious. on my chart where i marked is dead sure entries and again,will take from there .

aus/usd- oh we might collapse another round this week and max lows should be 0.92 ( HUge confl. level) so i will be looking to sell agasint the 100 ema or the 50% fib. both at the same level +-

thats me for the week!

have a great week !

GBP/CHF

long placed E/U @ 1.4305...SL @ 14140 - target 1.4770

Place 3 sellstop entries of eurusd @ 1.4300 stop @ 1.4450 (as per rules)...TP for one entry 1.40 while to profits for the remainder of the 2 entry should be left open...thanks

setup : basic 123

thanks and regards

Ali Raza

scenario 2 on E/U - if H&S failed - possibility of a triangle -

when you attached a key MA line (200 sma ,ema etc,) and your MA line running at the bottom of the triangle,then most cases it is a bearish break- vice verca with a bullish break.

if this is a triangle? (dont know yet) - then i am swifting more over to a "bearish " break ,as i do see the 200 SMA run at the bottom of the possible triangle.

i am still long and will re-evalueate if i got stopped out - will try longs again and run leg 4 from 1.3980's and reversed to play leg 5 and the breakout.
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GU - same scenario again- triangle scenario ( dont know yet) only reason why i do see it might be one, is ABC down and back up ABC - will only sell if we reach the levels on my chart.

cad chf
other chf pairs also have 23 fib setups but i like this one best.

like eur chf and chf jpy.

EUR/USD Rejection may be expected

GBP/CHF Rejected just below Fib, possible second test.

ECHF - Sell at 1.1310

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