That's fine if you actually take profit at +15 but some bears today seem to be setting at BE. So that is why I made that statement
btw, I'm not wasted. I am just waiting for my sell limit to trigger.
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Sorry PT, you are wasted. You really are an outstanding technical trader. I am not sure that I have learned the most from you of anybody... but you are definitely up there.
Yes, I'm taking my profit. I suffer from extreme cowardice. Still kicking myself for closing out a position yesterday back at 1.3838 for nine pips of profit.
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LOL If you bet 99.9% against it, then it will probably happen
Seriously though, here is a weekly chart for the E/U
I don't know the exact name of this bearish harmonic pattern. It's not a Gartley but one of the other valid ones.
Once point D is completed, then look for a bearish move.
The falling trend lines drawn on there are possible targets.
I don't really follow them because they work better on equities, not so much on currency pairs.
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My first target - the 38% retrace on the 15m chart that I posted earlier - was hit whilst I was out and so I missed the beautiful opportunity to buy the 50% pull back to the **56 area......but I did get in on the nice little retest of the 00 level.
Now looking at the 50% off the 15m = T1 fib ext on this 5m chart, but the old 3650 area has to be broken first....a run up into the USA data would do nicely
I think I have found it on an old chart. This ressistance was created on the point on the left, which was some weekly high. Right now it seems it was 36902, so I probably adjusted it for some reason I dont know now
Well for me it is no problem. If price does not make it to 1.3690, I can always enter lower.
However, for you, if it goes to revisit the 50% fib and then turn back down again, it will stop you out just before dropping. That is why I was asking you. I didn't mean to give you heart palpitations. I am just pointing out a possible danger zone for you.
Price stalled at a confuence around todays Daily Pivot of 3641 so pips were banked....looks like the idea of G-Pap running Greece failed to tickle the market's fancy.....
My first target - the 38% retrace on the 15m chart that I posted earlier - was hit whilst I was out and so I missed the beautiful opportunity to buy the 50% pull back to the **56 area......but I did get in on the nice little retest of the 00 level.
Now looking at the 50% off the 15m = T1 fib ext on this 5m chart, but the old 3650 area has to be broken first....a run up into the USA data would do nicely
Well for me it is no problem. If price does not make it to 1.3690, I can always enter lower.
However, for you, if it goes to revisit the 50% fib and then turn back down again, it will stop you out just before dropping. That is why I was asking you. I didn't mean to give you heart palpitations. I am just pointing out a possible danger zone for you.
1. US Jobless claims came is at 390K vs 400K expected
2. New G-Pap named for Greece
3. Italian bond auction had good (not great) results
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