This is round three for this one. This chart is just to give a little perspective on the trade. This one is currently on a bear flag. It looks like waves going up a ramp on a weekly time frame. The trade was started at 1.33399. Initial goal is around 1.3466. This is a possible level for reversal of the weekly trend and return to the monthly down trend. Should the pair get up past this point it should continue to finish another wave in the group. Previous waves have all been over 800 pips. This puts the goal at around 1.37+. If the trend reverses the trade will switch to short for an approximately 1400 pip drop when the bear flag corrects back to trend. SL will be under today's low at 1.3268
Trade active:
This is a closer view of what is happening now. I do expect this impulse move to correct back down to trend. Where the next low occurs is critical. The pair has not definitively set a trend as yet, although ongoing signals are bullish. It is making higher lows so far this time around.
Trade active:
The journey is well on the way now. Approaching the top of the flagpole wave now and should get past it next week. We will see. There is always the ever present danger this will reverse and go off the weekly cliff. But, that just means switching from long to short for about 1400 pips worth of drop. Still going for 1.37 atm; however. A note: the banner should show the total pips up so far for the trip. I have actually booked more using a couple contracts and getting in and out with retracements.
Trade active:
The pair has started a new wave and is currently finishing up the second section as it nears the top of the March flag ~1.3605. Whether it continues up through this area on its way to 1.3711, or reverses and starts a downtrend will be watched closely. Oil is projected to come back down after the move over $60 and this will put support under the pair.
Trade active:
The current move is measured to reach ~1.36605. The top of the flag is ~1.36675. The goal is to clear the top and continue to ~1.3711. The end of the underlying flag providing support for the previous waves in the group is probably going to break down in the near future. The trade may have to switch to the short side as we try to negotiate the upcoming overhead resistance zones around the approaching target zone.
Trade active:
From a little bigger perspective. This one has large (Monthly/Weekly) patterns the definitely play a big role in what's happening on the shorter time frames (dly/hrly…). A couple possible moves from here are shown. There are many, we will follow the trend and continue the updates.
Trade active:
Still waiting for eu to retrace and get this party started. EU will probably move with the London session. Once it reaches its top (under 1322 or over and rally) 1 will be added long here.
Trade active:
Entered short @ 1.3388 with a nearby target of 1.3352 (50% of the move up). It's entirely possible the pair will reverse around there and make another move at the highs. However, it is also possible it just keeps going to the bottom and makes a new low. Will follow the trend.
Trade active:
had to exit above with a small loss. Have re-entered here after a short limit triggered at 1.3416. Will add if it goes a little higher. SL at 1.1448. Will follow the pair down till it finds support or continues down to the base of the larger bear flag.
Trade active:
Currently short from 1.3426. Have created a straddle on this one. If it stays under 1.3446 I will remain short. If it goes over that I will be stopped out and a long trade will be triggered. The long will initially target the high at 1.3665. The short initially targets the base of the flagpole around 1.3124. Either will be traded until the trend is over.
Trade active:
Didn't make it as high as the long trigger or the higher short to be added. Oil up, DXY down and we're off from 1.3428.
Trade active:
This one will have to be entirely by ear. I currently have a higher short set up. There is also a break and go long limit buy set above resistance and the current SL. For now, the pair has broken below the current entry at 1.34284. There are a number of possibilities from here, but the main idea will be to follow the bear moves since the monthly trend is down.
Trade active:
This is a long term look at the pair. For the beginning of April/this week, the trade will run a bit further before profit is taken. DXY is currently retracing. When it is finished it will probably move higher impulsively. Initially this will produce more downside in uc and upside in eu. I will take profit on the UC at the end of the retrace and add to the eu short.
Trade closed manually:
Looks like it wants to retrace the 84 pip drop. I took 79 profit and will step aside for the moment. The 1.3486 short limit is still open. If this does a retrace normally, I'll reenter.
Trade active:
Long again for the moment with the usual target ranges in mind. 1.3344 will come up first, then 1.3444 area, next up is the high around 1.3465 then the top of the last wave before the flag pole at around 1.3665. Above that there is room for a move to around the low 1.37s from this base area. However, the chasm looms large and is overdue.
Trade active:
error above. The "last high before the flag pole" ! Should be the high from the flag pole. The previous wave has a higher top that would come into play next.
Trade active:
It may continue to ping–pong around in the current 40 pip zone, or make a move lower, as indicated by the recent high above 1.3450. Today the pair failed for the third time, to break above resistance at 1.3374; the 50% retracement of the drop from the high. I entered short at 1.3362, and will see what happens.
Trade active:
In at 1.3320. Initial level 1.3074. From there we'll see. If this swings up in the meantime I'll add.
Trade closed manually:
pair wanted to go up, I stopped out manually at a minimal loss.