CLOSED TRADE: EURUSD: SELL@1.12074 Wave Count (-41 pips)

FX:EURUSD   Euro / U.S. Dollar
741 6 8
Closed this trade for a -41 pip loss. After breaking the recent high point (1.12447), this pair seems headed for the upper trend line of the triangle pattern where it may then turn bearish (see Related Ideas: "ANALYSIS #1: EURUSD: BEARISH In Downtrend But How Far Will Go?" posted 4 days ago.)

Second failed trade in a row on this pair. Damn! Seems that this wave (4) is much more complicated than I thought it might be. Or maybe my counts are wrong and this isn't a wave (4)? I'll need to re-analyze this pair and see if I am off-base. For now, I am just going to sit aside and wait for it to reach the upper trend line of the larger triangle pattern as I stated in my bearish analysis. But when it does get there, I will need to see bearish price action before I take any SHORT positions. I'll be watching.....
I'm still with you bro. loss is part of what we have done here. keeping thought for best opportunity, and best regards to you for your willing to share.
+1 Reply
Much better trade at the moment EUR/NZD. Have a look !
Maybe so. But I don't trade that pair. Good luck on it though! And thanks for the suggestion.
Thanks for sharing mate.
Yep! I know that feeling. This week has been my worst week. Losses left right centre! It's been a hard week for a lot of people. But don't worry, next week you'll be back on track again bro :)
Thanks, mate. It's just this pair that has been frustrating me. Frustrated more so because I had such a good handle on this pair for the past several weeks and frustrated that I could not put up better trades for all here on this pair as well. Overall, this week has so far been another good week though not as good as some. Depending on my AUDUSD trade that I still have going, it'll be either a good week or a great week! Always staying positive! I have other trades not posted here that are also doing well so I'm good. Wishing you the best as well!
+1 Reply
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