Entered at 1.1319. Target 1.0946. SL 1.1680—there will be no letting them off the hook on this one. Plenty of margin available.
Trade active:
The entry number above is incorrect. I entered at 1.1319
Trade active:
Added 1 at 1.1324. Rule for this type of situation is the pair should come down 2 times the consolidation up. This was about a 175 pip move down and up. The trend has switched from up to down now and higher high attempts have failed (hence the additional contract).
Trade active:
The pair ended the week near it's current high. It may well move to a higher level before making a final top. If it does, another contract will be added to the trade as a second high forms. A fourth high at a new level would indicate a move higher and a change in underlying trend (weekly). If that develops the trade will be closed at a small loss.
Trade active:
eu completed a move to a new level, which apparently has failed. We still need a lower low on the daily to confirm. Current position is 1.1350 + 1.1342. The latter was picked up with today's move. It is entirely possible the pair will make another move to today's high. A limit short is waiting at 1.1364.
Trade active:
After yesterday's action the position has been changed with new contracts at 1.14445 and 1.14402. The pair has broken the correction up and reversed technically today. Further downside is likely towards original goals below 1.12.
Trade active:
Trade active:
I have been in and out and hung on to one with this one so far. I'm currently looking to add with this retrace. This should be sometime during the London session Mon. early. I have a limit set at about 50% of the move. So far so good. Have banked many pips so from here it's free money in the trade.
Trade active:
As noted above eu currently needs to finish the retrace of the most recent section down. A limit sell is in place around the 50% level at 1.1332. Expectation is to follow the pair down to around the 1.12 area. The pair may bounce and turn higher there in the short term, before continuing down towards the 1.09 zone. If so, this trade will be closed, put on hold, and re-entered from a higher level. However, if the pair continues down we should reach at least the 1.1150 area, or a little lower before a return to the 1.15 area for another short.
Comment:
A look at the weekly with some of the major trend lines shown. This should drop further, but needs to be watched for signs of a trend change.
Trade active:
Took profit on round 1 at 1.13044. Re-entered at 1.1330. The pair is making a bear flag as it consolidates after completing its retrace. It did not close a candle above 1.1332 and appears to be headed lower.
Trade active:
This wave is overextended and we'll likely see some volatility next week as a result. While we have still failed to close below 1.12155 the weekly candle and current 4hr setup is not in any way bullish to me.
Trade closed manually:
I have closed this for now at 1.12279. I'll reopen it once the current rally has topped out. There is still a move to 1.09 area to finish this trend move. 228 pips plus for the trade. At least one contract held continuously from the start.
Comment:
Trade active:
Decision was made to re—open the trade. A good lesson was learned in ignoring outside influence over a running trade. In this case I was purely lucky. The trade was closed, as noted above, at 1.1228. I was able to re–open at 1.12301. So the journey remains continuous for the banner with every pip covered at least once. Currently the pair is consolidating. It most likely will continue down. However, there are other options here. It could impulsively move up in a bear rally, it could continue sideways for weeks, or it could go through a corrective phase like we started the year. It left with a wedge/flag for the weekend. This should resolve down. We'll see.
Trade active:
Closed lower positions early and reopened two at 1224 and 1244. I'll wait till tomorrow/Wed. to see if eu goes for the 1.1310-20 area, otherwise I'll add here around 1260.
Trade active:
Currently waiting, through a holiday weekend with London closed 2 days, for eu to finish retracing a 98 pip drop. So far it has made 37.5%, and turned that high into a daily pivot. We may see it continue past the high to around 1.1275, the %50% line once London opens for the Tues. session. It may also be done retracing. In the latter case the down trend should continue.
Trade closed: target reached:
Our original goal was 1.1140. We've reached that, taken profit on half and will let the other half run. This should finish around 1.1050 and a banner will be made to continue from here.
Trade active:
from the current little double top the level is 1.0956. I'm on the way. We'll see how long it continues on trend. Reversal to trend confirmed with today's daily candle.
Trade active:
The break on a daily chart.
Trade active:
So long as today stays under Friday's high, the trend is still down. A stop is in place if it goes up through resistance.
Trade active:
Waiting for the resolution to a wedge formation. The action for the last 4 days has all been below the 50% line and it current'y shows a finished down section on the 4hr chart. The next move should be continuation down.
Trade active:
The pair is currently playing out a bull move off the 1.11106 bottom. It has been coiling into a wedge for about 3 weeks now. While the pair has crossed the 50% line and has confirmed a minor trend change (it is going up the front side of a new wave) it doesn't appear likely it will go much higher. It appears to be launching a bull move right into overhead resistance. So far we have two highs. The second is lower than the first. Over the coming week we should get a swing low and swing up to a new high. It is anticipated this 3rd high will be lower than the first two. The pair should continue down from there.
Trade active:
this is a scaled version of the chart. 10 pips/day locked. Unless the monthly, underlying trend has changed this should play out. If we get a wave above 1.1325 then the underlying trend has changed.
Trade active:
The pair has made no progress over the last 6 weeks. At first look it appears to be forming a small wave as per normal. However, a little measuring shows that every move has been retraced 87.5—100% making this a consolidation pattern. It may break out shortly, or this could continue a few more weeks to round out a two month period.