EverythingForex

UPDATE #2 ANALYSIS: EURUSD: Lots A Patterns point UP! +984 pips

FX:EURUSD   Euro Fx/U.S. Dollar
As mentioned in my previous post, (see Related Ideas: "UPDATE:ANALYSIS: EURUSD: Lots A Patterns....point UP! +912 pips"), the bearish butterfly has now been completed. Up to this point, including all the updates, trade calls and analysis on this pair, all together I have bagged +984 pips on this wave (C) up. Now with the completion of the butterfly pattern and the completion of the bearish Gartley and the overhead upper trend line of the large contracting triangle pattern, it is time to close up some positions and take profits.

MY TRADE PLAN
I am closing 70% OF ALL LONG positions and leaving 30% to ride and trailing that 30% with a 30 pip stop. Why such a tight stop in comparison to the overall profits? Because I am expecting a reversal back down soon if not sooner. It may continue higher right up the Gartley completion and the upper trend line or it may reverse now. It's hard to know but I'll be watching the price action for clues to close the remaining 30% and go SHORT. But for now, I'm taking profits and watching closely.

*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

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awesome..
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EverythingForex PRO suprijadisoemoredjo
a year ago
thanks. Hope you made some pips as well.
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Almost hit my target.Planning to short it after that.
Thx again for sharing.Good luck!

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EverythingForex PRO Don_Corleone
a year ago
thumbs up, man!
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MaryJane
a year ago
Very Nice! THX a lot!!! I just posted that: TP AND MOB-ZONE REACHED
snapshot

TP and MoB-Zone reached


We have reached my exspected level -the target of the sh-pattern.
Now it s getting very interesting. This Level is a potential selling zone - a MoB - the R/R for a short looks phantastic.
Can the eurusd brake through that selling zone, a big buying-signal would be generated.A possible target of the Breakout could be the 62,8 fibo-retracement @ 1,1755 from the move 1,25-1,044.
I exspect a shortterm pullback to 1,1190 ( "3?")

Former analysis:
LITTLE INVERSE SHS ?
Little inverse SHS ?

snapshot

Will the shs push the price to the upper edge of the triangle?
Green: preferred Szenario
Gey: Alternative Szenario
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