ch4otik
Short

EUR/USD NEAR TERM SUPPORT & RESISTANCE AREAS

FX_IDC:EURUSD   EURO / US DOLLAR
Just publishing this for later reference. I wanted to make use of the play button to validate my areas of support and resistance (red lines).
At the moment I entered a short around 1.1292 and plan to take profit at 1.12. If it drops lower fine. I've made good money at that point. If it doesn't, then it's excellent validation like I planned to see.
Comment: That short isn't looking viable. Will wait till London open before moving forward. The S&R lines are looking fine though.
Comment: Decided to stop posting trade ideas. The purpose of this chart is again validation of support and resistance lines. For this reason, trade ideas are useless. Once again, This is just a reference point for validation of support and resistance.
Comment: Almost a month later.
This has been interesting. The lines look reasonable. Though not exact, they do well at identifying zones of support and resistance.
If the current short doesn't head back up around the 1.205 line then I'll be entering another short to take profit at around 1.1157.
If it heads up, then longing till it reaches back up to the 1.292 area.
Again, this is just to try to validate my support and resistance lines by utilizing the play button.
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My lines are currently being adjusted. Still around the same area but more precise. I'll be entering a short at this point.
Instead of taking profit around 1.1157 though, I will first do so at 1.1185 before analyzing again on continuing to short or choosing to long.
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