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  • #669,261
  • Jul 18, 2012 5:20am Jul 18, 2012 5:20am
To me it looks like a bear pennant on the 5 minute chate. Followed by a bearish 3 falling pattern. Waiting 5 minutes to confirm it.
Luck has no place in trading. Leave that for the poker table.
  • #669,262
  • Jul 18, 2012 5:21am Jul 18, 2012 5:21am
Quoting mv6
in my opinion reverse on e/u like yesterday to 1.23xx
Yes ...

Lowest been 1.2227 ... which has been one of those points postulated and discussed in our pvt corner ...

If finally set A REVERSO from here ... then even higher possible again ...





;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #669,263
  • Jul 18, 2012 5:22am Jul 18, 2012 5:22am
Quoting mv6
in my opinion reverse on e/u like yesterday to 1.23xx
i had a same opinion..
  • #669,264
  • Jul 18, 2012 5:25am Jul 18, 2012 5:25am
Quoting BlueGas
Still eyeing 2223, but price is stalling atm
i am long from there i will scalp it because i believe it will go lower many pips
  • #669,265
  • Jul 18, 2012 5:26am Jul 18, 2012 5:26am
Quoting Pair-me-up
To me it looks like a bear pennant on the 5 minute chate. Followed by a bearish 3 falling pattern. Waiting 5 minutes to confirm it.
the moment of truth. the price has touched the ms1 for the second time
  • #669,266
  • Jul 18, 2012 5:28am Jul 18, 2012 5:28am
Undertaker
Max
  • #669,267
  • Jul 18, 2012 5:28am Jul 18, 2012 5:28am
hopefully a sell from the pin bounce will be a break even
  • #669,268
  • Jul 18, 2012 5:28am Jul 18, 2012 5:28am
For those that have missed the short entry and are thinking about getting in here are some immediate considerations....

M15 TF has made a simple ABC correction of yesterdays move up, but has exceeded the primary targets for this correction (indicating it may continue down) See chart

We should consider though that even if going down we are now likely to see a small pullback that should not exceed 1.2265 for this trade setup.

M5 Lets look at a standard 5 wave trend pattern next... see chart
I have not included the very top sideways move as this will show a clenaer picture for you and give a more conservative target.

Assuming that the end of wave 3 is just that we wait for a new M5 high to form (5 bar formation) below 1.2265 ideally between 1.2240 and 1.225x

then enter short for a move below 1.2226 (current low) will provide target prices once the turn is complete. SL above the turn.

If the price does not make a proper high point and just shoots lower this trade is too high risk as it could easily just turn straight back up again...

At your own risk just showing an opportunity
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: EURUSDM5.png Size: 27 KB
  • #669,269
  • Jul 18, 2012 5:28am Jul 18, 2012 5:28am
Quoting Nachiket
Undertaker
Max
hey bud, where have you been?
  • #669,270
  • Jul 18, 2012 5:29am Jul 18, 2012 5:29am
Quoting undertaker66
hey bud, where have you been?
I am trading but not alive on this forum. Probably for this forum I am R..I...P
  • #669,271
  • Jul 18, 2012 5:30am Jul 18, 2012 5:30am
Quoting mercy seat
Yes ...

Lowest been 1.2227 ... which has been one of those points postulated and discussed in our pvt corner ...

If finally set A REVERSO from here ... then even higher possible again ...





;-|
I'm long from here...2238.. SL : 2220 TP around 2300

GU give us reverse signal ^^, so i long EU
  • #669,272
  • Jul 18, 2012 5:32am Jul 18, 2012 5:32am
Quoting Nachiket
Undertaker
Max

all good how are you doing chap
  • #669,273
  • Jul 18, 2012 5:32am Jul 18, 2012 5:32am
Quoting Nachiket
I am trading but not alive on this forum. Probably for this forum I am R..I...P
I hope you are chokeslamming some mad bulls here.
  • #669,274
  • Jul 18, 2012 5:33am Jul 18, 2012 5:33am
Quoting Nachiket
I am trading but not alive on this forum. Probably for this forum I am R..I...P
what? u found a better forum?
Quoting Nachiket
I hope you are chokeslamming some mad bulls here.
that's right
  • #669,275
  • Jul 18, 2012 5:33am Jul 18, 2012 5:33am
Quoting MaxDoom
all good how are you doing chap
good. i am trading gbp/jpy nowadays and seem to be mastering a hedging strategy designed and developed by me
  • #669,276
  • Jul 18, 2012 5:34am Jul 18, 2012 5:34am
Quoting undertaker66
what? u found a better forum?
No way. I still like this forum.
  • #669,277
  • Jul 18, 2012 5:35am Jul 18, 2012 5:35am
if 15min engluf am selling well thats me
  • #669,278
  • Jul 18, 2012 5:38am Jul 18, 2012 5:38am
Quoting Pair-me-up
Well, I won't tell people which direction to go. The market works in probabilities that are always uncertain. However, if we can tip the scale bit in our favor, then maybe we can have a chance. There is a poster that used to come here named Cloggie. I have learned tons from reading his posts. I would suggest you read his post near the beginning of his time here at FF. He is a price action trader and is good at fundamentals. I am still learning. But much better from what I learned from his posts!!
Oh, good old Cloggie! I ran through his posts and his capacity to analyze and forecast market moves is quite something. I was around when he was still posting here and learned a hell of lot. "The really useless thread" doesn't deserve it's name and I picked up some tricks along the way.

Anyway, is 1.2235x consolidation or a bounce? I think we could see another leg down, but waiting for a setup.
  • #669,279
  • Jul 18, 2012 5:40am Jul 18, 2012 5:40am
Quoting MaxDoom

.... then enter short for a move below 1.2226 (current low) will provide target prices once the turn is complete. SL above the turn.

If the price does not make a proper high point and just shoots lower this trade is too high risk as it could easily just turn straight back up again...

At your own risk just showing an opportunity
targets - as we are conservative in targeting I would aim for the stretch at 1.220x

lock in BE at @ 1.2225

If the trade fails don't sit on a looser cut it and take the next M5 turn so lonag as it is below 1.2260
Attached Image (click to enlarge)
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  • #669,280
  • Jul 18, 2012 5:40am Jul 18, 2012 5:40am
What does ms1 mean?
Luck has no place in trading. Leave that for the poker table.
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Yaruki