The System III (Oh no!)

70 is holding

breakout of 60.....still sitting on my hands.

Breakout of 60 on my feed, the candle looked like hit support on 54, should we be thinking about taking a long trade if it goes long

Gentlemen,
long in play @ 1.3465 .. let's see

all the best,
chriz

sell at 1.34707

I went long @76 - let's see if support holds...If I lose no biggie...I am in profit this week anyway. I might look for shorts below 56.....maybe....

my s/l @ 56

stopped @56

Good day!

I am short at 56

SL - 3479, TP - 3428

stopped out for 20 at 1.3450

Stopped out.

Stopped out on my long and my re-entry short. Time to sit back and observe for a while. Good luck if you're still in.

Here's why you shouldn't trade breakouts blindly...

I did take that breakout only because I was thinking there was a breakout and pullback already. And i did enter like at follow-throug after pullback...

Now I see my levels understanding was wrong.

I see a series of lower lows and lower highs on the 15 min, not sure if this is of relevance to the way we are trading but im thinking, short off the new resistance ive got at 1.3487

EDIT: SL moved to Break Even, got to go christmas shopping

Stopped out at BE
I'll be waiting for 1.3415 level for reload Long eventually..
Let the market comes to those levels..

all the best,
chriz

Currently short 1.3480. Am I right or wrong?
1st target 1.3425

forgot to say sl set to 1.3495. Could go either way. I'd really appreciate comments, critisism etc from some of the more experienced posters if you get chance. Would you have taken this trade based on the system 3 guidelines?

Thanks.

Dave.

Dave,
Im a newbie also, but i too took this trade (on my demo) 3 purple lines mark out entry sl and tp, i went short at 1.3478 and we have the same SL.
I traded it off the 5 min though, hopefully its a good thing that we both took it
It's still making higher lows and higher highs though so not sure if ive got a good feeling

EDIT : Ignor my Support line, it is a little rough (i didnt adjust it since this morning)

Good day!

Well. short looks right, but may be not in right time... - NFP comes, so we probably will have choppy market in hands now...

As for target - I think 53 area is more possible.... At least - it is first current support area.

Good luck!