I'm entering short here, rgmov doesn't agree with the recent rallying and we have one daily range expansion bar that failed. There is a 16 week mode above, and quarterly, monthly and weekly range expansion resistance. If this week closes under this mode, it will confirm a decline to parity, roughly. Today the Fed statement seemed dovish to many, and there are a lot of euro bulls let loose. I'm short and will wait patiently. Good luck, Ivan.
We have a move above the previous daily bar, we can short again with 1/2 or 1/4 position size and trail the stop to 1.11887 (use this stop loss location for the next entry).
Idea is scaling in while it trends down, making each entry incrementally tighter, and with bigger position size.
I risked 1% on the first, and now risking 0.25% on this scale in.
Market sold:
1.11414, SL @ 1.11887
Trailed first entry stop to 1.11887.
Good luck!
shakoanerodneycharles
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thanks a lot this is helpful 4 s nebies
IvanLabrie
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No problem!
Hopefully this one does work well. The news on Friday should send it down fast.
Otherwise we should get out.
I'll update it as we go.
Ice_
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Same boat.
IvanLabrie
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Good luck to us!
IvanLabrie
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This is invalid, analysis continues in the new chart. See related ideas.
IvanLabrie
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China data next, and we have intense Eurozone news tomorrow.
Daily trend signal is reaching its target ahead of time, I want to short this, but need to wait.
A nice extra: UCSGEARS wonderful snapback indicator is flashing a high probability reversal in the 4h chart.
IvanLabrie
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I'd like to short anything under 1.14427 (the highest weekly range expansion bar stop loss level) but I'll wait for the trend to expire, and enter tomorrow during NY.
IvanLabrie
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Options expiration will send it down.
We should be able to re short tomorrow.
Idea is scaling in while it trends down, making each entry incrementally tighter, and with bigger position size.
I risked 1% on the first, and now risking 0.25% on this scale in.
Market sold:
1.11414, SL @ 1.11887
Trailed first entry stop to 1.11887.
Good luck!