DislikedRange is so small at the moment. No real direction. Staying away for now.Ignored
Agreed ... Only thing I see for a possible long is at 1.0835 down to 1.0805 and short around 1.1000 to 1.1050
Range is so small at the moment. No real direction. Staying away for now.
I did pick up a lovely long position from the first touch of the lowest 15-minute array. Covered for 11.8 pips with risk of 10... so about 1:1. Would've liked to hold it for longer, but instead went out to see the big short movie and decided trading while watching a movie about trading wasn't the best call
.I'm frankly a bit bored by the EURUSD at the moment. Need to see some much lower/higher prices in order for me to get in now that those 15-minute arrays have been used up.
Mike
Understanding yourself is synonymous with understanding the markets.
Finally some movement. My preference is still to enter short above 1.090 (blue circle) with price action confirmation. The 1-minute ADX is very overbought right now but that's not enough to enter a trade in my books.
Mike
Mike
Understanding yourself is synonymous with understanding the markets.
and that short was an obvious mistake, went long again at 00
Mike
Understanding yourself is synonymous with understanding the markets.
- #113
- Edited 12:53pm Jan 19, 2016 12:27pm | Edited 12:53pm
- | Joined Mar 2014 | Status: Trader | 173 Posts
Hey there guys....its gone far beyond 1.09 now. perhaps we can opt for a short position? what are the chances that the market wants to retest the 1.1 mark from 09.12.2015? {image}
As I mentioned above, i am waiting for 1.1000-1.1050 to pile in short positions .. might not happen today, but I am patient
G'day everyone.
It's not often that I trade the Asian session, but I've picked up a short position speculating on an intraday sell-off. The hourly chart below shows a nice reversal candle which ticks just up to a new descending trendline. The position has confluence with the 1.0925 round level as well as some 15-minute channels arrays (and of course the ADX). Risking 10 pips for 25, about 2.5:1 before commission.
The 15-minute price action that just closed is a little concerning to me, still more than content with the trade overall.
Mike
It's not often that I trade the Asian session, but I've picked up a short position speculating on an intraday sell-off. The hourly chart below shows a nice reversal candle which ticks just up to a new descending trendline. The position has confluence with the 1.0925 round level as well as some 15-minute channels arrays (and of course the ADX). Risking 10 pips for 25, about 2.5:1 before commission.
The 15-minute price action that just closed is a little concerning to me, still more than content with the trade overall.
Mike
Understanding yourself is synonymous with understanding the markets.
I'm in short from 1.09756. Stop @ 1.09856, open target at the moment. Will likely close when I see an upside signal, preferably price action at a key level.
Mike
Mike
Understanding yourself is synonymous with understanding the markets.
Here's another chart, the 4-hour. I'm in short from the very top of the prevailing channel, that's why I'm content with being a bit lax about a specific target. Let your winners run, as they say. Obviously I have a target set at around 70 pips, that number is very abnormal for my trading though as I'll normally close for between 5 and 25 pips.
Mike
Mike
Understanding yourself is synonymous with understanding the markets.
we seem to have a pretty tough resistance at round about 1.095. lets see if we just get a little retracement to break that R. the Dax is weak. it could be a long situation. im keeping my hands off for now well....looks good for you mike... lets see what happens if he hits 61.8 retracement at 1.0903.... ps: still no trade for me yet
Spent a bit of time on some other pairs today, mostly the GBPUSD as volatility was really good during the session. Here's hoping none of us were short the CAD tonight... (it was fun to watch though!).
Mike
Understanding yourself is synonymous with understanding the markets.