EURUSD....Euro

[i_in]

Been rising for the past two days. Is it time to short ??? any charts ?

Thanks

4216 or 3183
i will close 1/2 of the position at 3 pm GMT

 

[supermatt]

hi guys. Im only new but thought I would give this a go and post a chart.... whats the worst that can happen? that im wrong lets see what happens.

Any way the EUR has just climbed up over the mid term purple trendline. I thought it was going to run out of steam there but as it happens it appears to have broken this resistance channel that has formed over the last few months. The next obvious area where it may go next is up towards the 1.4273mark as it seems like it could be a strong area of resistance with the white trend channel line. I love fibs so I found this interesting too.. The last retracement was 38.2%. This also was spot on a long term trendline in the aqua color, so the target here would be around 138.2% which is exactly around the area where the upper white trendline bumps into.

Ive only been doing this for a few weeks so go easy on me

thanks

 

[Wysiwyg]

Just bought a couple of smalls on this pennant breakout, well actually in the triangle near the end at 1.4223. So far so good. Looking for 50 pips but forever cautious with forex trading.

 

[Wysiwyg]

Dead at breakeven. Forex is a joke.

 

[jonojpsg]

Dead at breakeven. Forex is a joke.

Hey Wys, I 'm short from 1.4224 - thought it had run too far today and last post pointed out serious resistance ahead around 1.4273 which I thought was playing out around the tops formed around 1.424. See how I'm going in an hour

 

[Wysiwyg]

Hey Wys, I 'm short from 1.4224 - thought it had run too far today and last post pointed out serious resistance ahead around 1.4273 which I thought was playing out around the tops formed around 1.424. See how I'm going in an hour

Yes jono, it has panned out that way. Good luck with it. I just aint confident anymore for longer holds.

 

[Naked shorts]

Dead at breakeven. Forex is a joke.

LOL, im guessing that your T/P point was one point higher then what it hit before crashing back down to B/E? Its good fun!

 

[i_in]

buy limit 4140

gl&gt

 

[jonojpsg]

Yes jono, it has panned out that way. Good luck with it. I just aint confident anymore for longer holds.

OUt this morning at 1.4163 for 60 odd pips

 

[AbundantIncome]

one of my account has not changed much if any, I like to think this is a positive thing with all these wild rides ??? won a fair bit ? lost a fair bit ... what the ?????

 

[white_goodman]

long at 1.40

 

[i_in]

buy on dip!
3930 is good long
gl&gt

 

[>Apocalypto<]

Dead at breakeven. Forex is a joke.

that's a perfect example of why I stopped playing the break out game.

 

[Sakk]

Dead at breakeven. Forex is a joke.

Wysiwyg,

I love b/e trades

Your entry was good at 1.4223, price ran up 23 pips to previous pivot high then pulled back to stop you out. If your playing 1min charts you need to be more aggresive with managing the trade.

As an alternative, you could sell 50% of position at just under previous pivot high at around 1.4242, locking in 19 pips and trailing the remainder of the position at pivot low after HH is made, in this case trailoing stop would be set at 1.4232, locking in another 9pips for a total profit of approx 14 pips.

 

[>Apocalypto<]

Wysiwyg,

I love b/e trades

Your entry was good at 1.4223, price ran up 23 pips to previous pivot high then pulled back to stop you out. If your playing 1min charts you need to be more aggresive with managing the trade.

that is a great point +23 pips off a 1 min chart is like 123 on a 4 hour chart!

Wysiwyg you got greedy champ! :bonk:

 

[fapturbo]

that's a perfect example of why I stopped playing the break out game.

Isn't a trend just a move from one consolidation pattern to another consolidation pattern caused by a breakout from each consolidation pattern??

 

[>Apocalypto<]

Isn't a trend just a move from one consolidation pattern to another consolidation pattern caused by a breakout from each consolidation pattern??

if trading was that easy Fap you would not need an EA to make money.....

 

[fapturbo]

if trading was that easy Fap you would not need an EA to make money.....

Nice come back mate

 

[>Apocalypto<]

Nice come back mate

think about it Fab,

that is a 1min chart....

looking at that pattern break out then thinking it's going straight into a range...

it's so easy to call things and make money in hindsight. very different in the heat of the moment.

 

[fapturbo]

think about it Fab,

that is a 1min chart....

looking at that pattern break out then thinking it's going straight into a range...

it's so easy to call things and make money in hindsight. very different in the heat of the moment.

That's why you need to have a clear entry and exit condition.

Most importantly a clear Exit.