I am looking for this pair to continue north out of a small consolidation range off the flagpole. Taking it to 1.62.
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Ok we are starting to get good pullbacks on this one guys if you are not in. I am going to take this one from the bottom of support currently at 156.95.. Let this drop to the bottom of the flag and then buy north!
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This is looking good still. Going to stay the position and see if we can break the top of this pennant. I added yesterday and am staying all three of the entries that I have taken. Any questions, message me. Thanks!!!
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Getting the price action up to the top of the flag within the large consolidation! Lets trade this to 15816 and break off the top of this flag, guys!
Trade closed: target reached:
This bought to the top of the channel... I have pulled 152 pips off a couple of positions. We are still waiting for this to break the top of the flag. I will let you know when I reenter. Thanks! Remember that when you are in an up pulse and you consolidate, typically it is safer to look for more up. This does not always happen, but the more probable trade is to the upside in spite of euro's weakness. We may not get the trade for a few weeks. It may stay here... regardless, let's catch it when and if it goes. Thanks tons!! xo
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We have broken out of the flag. Don't enter this today... Look for the Monday buy from 1.58. Thanks guys... we are going to 162!
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I have added a position this morning post Euro news looking for the long to 162. Stop at 157 area. If this comes back and hits the top of the flag I will go from there as well. Thanks! Still looking up!
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I have taken another position at 15788 from the top of the flag. Looking for 162. watch the resistance at 159 and you start getting bearish patterns pull some profit out of it. Looking for 162 go 1:3 or 1:4 on the risk reward. Thanks!!
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Filled another level at 157 on euroaustralian.. reaching lots of support still looking higher.
Trade closed: stop reached:
I have pulled these positions because of price action today. pretty decidedly short. I am cutting losses and looking forward to possible reentry next week.
Just a note to those who follow these trades. Typically i trade 1:3 risk v reward. So if you are learning and you want to follow along on your demo when I post in, if I am expecting 100 pips, I typically take a 30 pip stop. for 200 pips, normally it is only a 50 pip stop. I am never "hanging" in the market. I ensure that the stop loss is below the last major support or below the A of an up move or above the A boundary of a down move. Don't hang in the market when moves come against you. Trade the proper risk reward ratio and if you win more trades than you lose and let your target or your stop take you out, your account will move up in balance and you will be profitable. The key is not winning all of the time.. It is proper equity management. 50 pips unless I specify otherwise. Thanks!